Founded in 2018, OculusIT has built a strong reputation as a trusted IT partner to over 200 colleges and universities, offering a broad suite of services including managed enterprise resource planning, cloud services, cybersecurity, infrastructure management, and 24x7 support. Its comprehensive, high-touch model, delivered through a global workforce and anchored in responsiveness, flexibility, and measurable ROI, has positioned OculusIT as a trusted, full-service partner to institutions navigating increasing operational complexity.
"We are excited to welcome OculusIT into the Avathon portfolio," said Shoshana Vernick, Managing Partner at Avathon. "The Company's ability to deliver high-ROI, essential technology services makes it an important partner to institutions facing a multitude of complex challenges."
"We are proud of OculusIT's growth and the value it has delivered to the higher education sector," said Anjli Jain, General Partner of ElevenX Capital. "This exit underscores our commitment to building and investing in companies that drive innovation and deliver exceptional service to customers."
OculusIT will continue to be led by CEO Joe Redwine. His leadership has been foundational in developing and growing client relationships and ensuring operational excellence.
"This partnership allows us to grow with purpose," said Redwine. "With Avathon's support, we can extend our reach, invest in innovation, and serve our clients with even greater scale and sophistication."
To support Redwine and OculusIT's continued evolution, Avathon has assembled an experienced leadership and advisory team. This effort leverages the firm's strong track record in higher education and deep network across the sector. Paul Skordilis, a seasoned executive with a background in global IT services and higher education, will serve as Chairman of the Board, Lynnet Conley, former CFO of Avathon portfolio company, Shorelight Education, as Interim CFO, and Abhijeet Chimade, an experienced operator with a track record in scaling global technology businesses, as Chief Operating Officer. Mark Hipp, an advisor and operator with deep experience in global operations and technology, will join the Board as a director.
"We see a clear opportunity to build a market-leading platform in higher education IT services, where institutions face urgent and growing needs around infrastructure, security, and talent," said Nishaad Balachandran, Principal at Avathon. "Our focus will be on strengthening OculusIT's go-to-market engine, expanding the leadership team, and investing in capabilities that support scalable, long-term growth."
This partnership marks Avathon's sixteenth platform investment. BakerHostetler served as Avathon's legal advisor on the OculusIT transaction. ElevenX Capital was advised by Tyton Partners as exclusive financial advisor and by Greenberg Traurig as legal counsel.
About Avathon Capital: Avathon Capital is a private equity firm specialized in investing in lower middle-market companies in the education and workforce markets. Avathon's sector specialization creates compounding advantages—enabling the Firm to deeply understand its markets, identify opportunities early, and build an extensive network of industry leaders and seasoned executives. With its research-first, executive-first approach, Avathon brings decades of experience and a partnership-driven mindset to every investment, engaging with conviction and working collaboratively to drive meaningful growth. Recognized by Inc. as a Top Founder-Friendly Private Equity Firm, Avathon is committed to building enduring companies that shape the future of education and workforce. For more information visit: https://avathoncapital.com/.
About OculusIT: OculusIT is a premier provider of managed IT, security, and enterprise application services for higher education institutions. With a 24x7 service model and global delivery capabilities, OculusIT supports more than 200 institutions with tailored solutions that help colleges and universities scale operations, reduce costs, and improve student experiences. For more information, visit: https://www.oculusit.com/.
About ElevenX Capital: ElevenX Capital is a venture studio and venture capital fund that builds companies from the ground up. Founded in 2014 by serial entrepreneur Anjli Jain, ElevenX redefines the traditional venture capital model by combining ideas, capital and talent to create and scale companies across various sectors, including cybersecurity, artificial intelligence, and education and workforce management. The firm brings together experienced entrepreneurs and value creation specialists in marketing, sales, engineering, talent, legal and finance to support the development of new ventures from inception to scale. ElevenX has offices in Miami, Florida and Gurgaon, India. For more information, visit: https://www.elevenxcapital.com.
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SOURCE Avathon Capital
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