Palo Alto Networks has acquired Console, a two-year-old startup that automates routine IT help desk tasks using AI agents, for $500 million in cash and stock. This acquisition was officially announced on Tuesday, although the specific terms of the deal were not disclosed.
Background on Console
Founded in 2024, Console has raised a total of $29 million across two funding rounds: a $6.2 million seed round led by Thrive Capital and a $23 million Series A round co-led by DST Global and Thrive. Prior to the acquisition, Console was valued at $157 million, according to PitchBook. This sale marks a significant return for investors, including SV Angel, Abstract Ventures, and Nikesh Arora, the CEO of Palo Alto Networks, who was an angel investor in Console.
Integration with Cortex
Palo Alto Networks plans to integrate Console into its Cortex platform, which utilizes AI to automatically detect and neutralize threats. The functionality of Console will enable security teams to investigate and resolve alerts using natural language, enhancing Cortex's capabilities to deliver autonomous security outcomes across enterprises. Arora stated that Console provides "the arms and legs to deliver autonomous security outcomes across the entire enterprise."
