MoneyThe story, in brief
Palo Alto Networks paid $500M for Thrive-backed Console, sources say
$500M. That's what Palo Alto Networks just paid for Console, a Thrive-backed AI automation startup — reshaping the IT service automation market.
The KeyNews take
Why it matters
A major security vendor's acquisition of an AI-native IT automation platform signals enterprise appetite for agentic IT operations, while leaving Sequoia-backed Serval as the category leader among independents. Practitioners budgeting for IT automation tooling now see consolidation pressure.
The key facts
5 to knowPalo Alto Networks acquired Console for $500M
Console is backed by Thrive Capital
Serval (Sequoia-backed) now de facto startup leader in AI IT service automation
Acquisition date: September 2, 2026
Category: AI-driven IT service automation / agent-adjacent
Go to the source
TechCrunch AItechcrunch.com
Publisher excerpt: The acquisition also leaves Sequoia-backed Serval as the de facto startup leader in AI IT service automation, industry watchers believe.