Palo Alto Networks in talks to acquire AI agent security startup Clutch for $500M

Palo Alto Networks is in talks to acquire Clutch Security for $500 million.

Clutch was last valued at $85 million when it raised a $20 million Series A round in January 2025.

Clutch is currently approaching $10 million in annual recurring revenue.

If completed, the acquisition would value Clutch at about 50 times its ARR.

Palo Alto Networks has ramped up dealmaking this year in response to rising AI-driven cyberattacks.