Everstone Capital Acquires Majority Stake in Wingify to Boost Global SaaS Growth The deal includes a significant investment aimed at accelerating product innovation and expanding VWO's global reach.
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Singapore-based private equity firm Everstone Capital has acquired a majority stake in Wingify, the India-origin SaaS company behind VWO, a leading marketing technology product. The deal includes a significant investment aimed at accelerating product innovation and expanding VWO's global reach.
Wingify's flagship product, VWO, claims to serve over 3,000 global brands, optimise digital experiences and drive business growth. With an Annual Recurring Revenue (ARR) exceeding USD 50 million and strong profitability, the company generates approximately 90% of its revenue from the US and Europe.
Sandeep Singh, Managing Director of Everstone Capital, said, "Wingify is among a select set of highly profitable software companies from India that have achieved a leading global position. This marks our second major investment in marketing technology in 18 months. We're excited to work with Sparsh and his team on Wingify's next growth phase."
Sparsh Gupta, Co-founder and CEO of Wingify, and the leadership team will retain a substantial equity stake. "This partnership with Everstone will help us scale our innovation and strengthen our international footprint," said Sparsh.
Founder Paras Chopra, who will remain a shareholder and board member, expressed confidence in the company's future under Sparsh and Everstone's leadership. "I look forward to supporting the business as it scales new heights," he stated.
Wingify stands out as one of the few India-bred SaaS companies with significant scale, profitability, and a dominant global market presence.
"The technology sector in general, and the software space in particular, are key components of our private equity investment strategy. Wingify adds to the formidable technology franchise at Everstone Capital which has spanned investments in multiple sub sectors including tech enabled business services (Omega, Everise, MediaMint), digital engineering (Apexon, C Prime) and software (Acqueon)," said Avnish Mehra, Vice Chairman, head of private equity at Everstone Capital.
With assets under management exceeding USD 8 billion, Everstone Capital is committed to fostering growth across mid-market and cross-border opportunities in Southeast Asia and India. This acquisition is a milestone in Everstone's journey to back innovative, high-growth companies in the technology space.
