Eleven Software Inc. announced it has been acquired by Ven Capital Partners, a technology-focused private equity firm.

Founded in 2002, Eleven is a leader in cloud software for the hospitality, multifamily, and community Wi-Fi sectors. Its ElevenOS platform enables hotel and retail brands, apartment and condominium complexes, as well as local communities to offer consistent Wi-Fi connectivity experiences around the globe in over fifty countries with twenty million device connections every day.

ElevenOS is the #1 Wi-Fi connectivity platform for brands around the world, enabling a consistent connection experience regardless of the Wi-Fi service provider or underlying network hardware. Brands have also been leveraging Eleven to grow their in-house loyalty programs through sign-ups as part of the Wi-Fi connection experience, generating 10x enrollments compared to traditional acquisition channels. The Eleven multifamily solution enables cable and telecom operators to offer Wi-Fi as an amenity for apartments, condominiums, and student housing. Municipalities can leverage the Eleven Passpoint solution to provide automatic, hassle-free, and secure connectivity for residents and visitors alike to enjoy an always-connected main street.

“We couldn’t be more thrilled with the acquisition by Ven Capital. Their impressive portfolio of investors, access to capital, and focus on our core industries will create incredible opportunities for our customers and employees,” commented Peri Pierone, the outgoing Eleven CEO. “We’re seeing an increasingly more strategic approach to Wi-Fi for networks outside the home and office, and with Ven’s capital backing, Eleven is well positioned to accelerate its growth trajectory and become the world leader.”

Ven Capital’s acquisition builds upon Eleven’s consistent track record of delivering innovation in Wi-Fi management. “Eleven has a strong reputation as a market leader and the company’s impressive growth positions us well for the next chapter,” said Hannah Greenberg, Managing Partner for Ven Capital and incoming Eleven CEO. “The company’s culture, record of innovation, and dedication to its blue chip customers made this an easy investment decision for our firm and our investors.”

Eleven will retain the entire team and continue to operate out of its headquarters in downtown Portland, Oregon. Financial terms were not disclosed.