OculusIT acquired by Avathon Capital in strategic education tech deal
ILLINOIS and FLORIDA, UNITED STATES — OculusIT, a managed services provider for higher education institutions, has been acquired by private equity firm Avathon Capital, for an undisclosed amount.
The deal marks Avathon’s sixteenth platform investment as it seeks to deepen its presence in the education technology sector.
OculusIT’s role in higher education technology
Founded in 2018, OculusIT has become a key player in higher education IT services, supporting more than 200 colleges and universities in the United States.
The company delivers a broad suite of offerings, including managed enterprise resource planning (ERP), cloud services, cybersecurity, infrastructure management, and 24×7 support.
With a global workforce, OculusIT’s high-touch, responsive model is designed to help institutions navigate increasing operational complexity and improve student experiences.
CEO Joe Redwine will continue to lead OculusIT following the acquisition. “This partnership allows us to grow with purpose. With Avathon’s support, we can extend our reach, invest in innovation, and serve our clients with even greater scale and sophistication,” he said.
Avathon and ElevenX: Sector specialists with global reach
OculusIT was previously backed by venture studio ElevenX Capital, which incubated and scaled the company beginning in 2018.
ElevenX Capital is a venture studio and fund with offices in Miami, Florida, and Gurgaon, India. It specializes in building and scaling companies in sectors such as cybersecurity, artificial intelligence, and education management, supporting ventures from inception to scale.
“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.”
Avathon Capital focuses on lower middle-market companies in the education and workforce markets, leveraging deep sector expertise and a partnership-driven approach to drive growth. The firm typically invests in companies with strong product-market fit and clear growth opportunities, often committing $10 to $50 million per transaction. Avathon’s portfolio benefits from an extensive network of industry leaders and a research-first investment philosophy.
Leadership continuity and strategic growth
To support OculusIT’s continued evolution, Avathon has assembled an experienced leadership and advisory team, including Paul Skordilis as Chairman of the Board, Lynnet Conley as Interim CFO, and Abhijeet Chimade as Chief Operating Officer.
The acquisition is expected to accelerate OculusIT’s innovation and expand its service capabilities for higher education clients.
“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.”
OculusIT will maintain its headquarters in Summit, New Jersey, and continue to operate with its global workforce, serving institutions primarily in the United States.
