--- title: Palo Alto Networks paid $500M for Thrive-backed Console,... description: Palo Alto Networks paid roughly $500 million in cash and stock to acquire Console, a two-year-old AI startup that automates IT help desk tasks, according to... canonical: https://daily.dev/posts/palo-alto-networks-paid-500m-for-thrive-backed-console-sources-say-lfqj4xfjz twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Palo Alto Networks paid $500M for Thrive-backed Console, sources say | daily.dev og:description: Palo Alto Networks paid roughly $500 million in cash and stock to acquire Console, a two-year-old AI startup that automates IT help desk tasks, according to... og:url: https://daily.dev/posts/palo-alto-networks-paid-500m-for-thrive-backed-console-sources-say-lfqj4xfjz og:image: https://api.daily.dev/og/posts/LFqj4xfJZ.png og:image:alt: Palo Alto Networks paid $500M for Thrive-backed Console, sources say og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Palo Alto Networks paid $500M for Thrive-backed Console, sources say **[TechCrunch](https://daily.dev/sources/tc)** · 2 min read · 0 upvotes · 0 comments ## Summary Palo Alto Networks paid roughly $500 million in cash and stock to acquire Console, a two-year-old AI startup that automates IT help desk tasks, according to sources close to the deal. Console had raised $29 million and was last valued at $157 million, marking a quick return for investors including Thrive Capital and Palo Alto Networks CEO Nikesh Arora, who was an angel investor. Console will be folded into Cortex, Palo Alto Networks' AI-driven threat detection platform, adding agentic capabilities for resolving security alerts via natural language. The deal leaves Sequoia-backed Serval, now valued at $1 billion, as the leading independent startup in AI-driven IT service automation. Console is Palo Alto Networks' seventh acquisition in 2026, following purchases of Chronosphere and Koi. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### How much did Palo Alto Networks pay to acquire the AI startup Console? Palo Alto Networks paid approximately $500 million in cash and stock for Console, according to people with knowledge of the deal, though the companies did not publicly disclose terms. Console, founded in 2024 by Andrei Serban, had raised $29 million total and was valued at $157 million before the sale, giving early backers a rapid return. _Track major cybersecurity acquisitions like this one as they reshape the AI IT-automation market on daily.dev._ ### What will Palo Alto Networks do with Console's technology after acquiring it? Palo Alto Networks plans to integrate Console into Cortex, its AI-driven platform for detecting and neutralizing security threats. Console's agentic AI functionality, previously used for automating IT help desk tasks like password resets and app access requests, will let security teams investigate and resolve alerts using natural language commands. _Follow how AI agents get folded into security platforms like Cortex on daily.dev._ ### Who is the main competitor to Console in AI-powered IT service automation? Serval is considered Console's main competitor and, following Console's acquisition by Palo Alto Networks, is now viewed as the leading independent startup in AI IT service management. Serval reached a $1 billion valuation after raising a $75 million Series B led by Sequoia, and it has expanded from IT support into HR, legal, and finance automation. _Compare emerging AI service-automation startups like Serval before betting on one for your stack, via daily.dev._ ## Similar posts on daily.dev - [Palo Alto Networks Moves to Secure Agentic Endpoints with Koi Deal](https://daily.dev/posts/palo-alto-networks-moves-to-secure-agentic-endpoints-with-koi-deal-3hx9gllgc) · Security Boulevard · 1 upvotes · 0 comments - [Palo Alto Networks bets $700M-class AI bet on Portkey gateway](https://daily.dev/posts/palo-alto-networks-bets-700m-class-ai-bet-on-portkey-gateway-lsrrosbcj) · The New Stack · 1 upvotes · 0 comments - [Palo Alto isn't saying if it will buy security start-up Koi](https://daily.dev/posts/palo-alto-isn-t-saying-if-it-will-buy-security-start-up-koi-6pihiylwq) · The Register · 0 upvotes · 0 comments --- Tags: [#cyber](https://daily.dev/tags/cyber), [#startup](https://daily.dev/tags/startup), [#business](https://daily.dev/tags/business), [#ai-agents](https://daily.dev/tags/ai-agents) [View this post on daily.dev](https://daily.dev/posts/palo-alto-networks-paid-500m-for-thrive-backed-console-sources-say-lfqj4xfjz) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Palo Alto Networks paid $500M for Thrive-backed Console, sources say","url":"https://daily.dev/posts/palo-alto-networks-paid-500m-for-thrive-backed-console-sources-say-lfqj4xfjz","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/palo-alto-networks-paid-500m-for-thrive-backed-console-sources-say-lfqj4xfjz"},"datePublished":"2026-09-02T22:47:09.499Z","dateModified":"2026-09-03T00:24:23.218Z","description":"Palo Alto Networks paid roughly $500 million in cash and stock to acquire Console, a two-year-old AI startup that automates IT help desk tasks, according to...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/0c05465ec59f037e8e76ad65236ce48f?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/0c05465ec59f037e8e76ad65236ce48f?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"TechCrunch","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"TechCrunch","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tc","url":"https://daily.dev/sources/tc"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/palo-alto-networks-paid-500m-for-thrive-backed-console-sources-say-lfqj4xfjz","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"cyber,startup,business,ai-agents","timeRequired":"PT2M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"TechCrunch","item":"https://daily.dev/sources/tc"},{"@type":"ListItem","position":3,"name":"Palo Alto Networks paid $500M for Thrive-backed Console, sources say"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/palo-alto-networks-paid-500m-for-thrive-backed-console-sources-say-lfqj4xfjz#faq","mainEntity":[{"@type":"Question","name":"How much did Palo Alto Networks pay to acquire the AI startup Console?","acceptedAnswer":{"@type":"Answer","text":"Palo Alto Networks paid approximately $500 million in cash and stock for Console, according to people with knowledge of the deal, though the companies did not publicly disclose terms. 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