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Everstone Capital acquires majority stake in SaaS firm Wingify

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Sumit Vishwakarma
New Update
Everstone Capital

Paras Chopra, Founder of Wingify

Singapore-based private equity firm Everstone Capital has acquired a majority stake in Wingify, a global provider of marketing technology SaaS product, VWO. 

The partnership includes a significant investment aimed at accelerating VWO’s product innovation and international growth. This highlights Everstone’s focus on supporting two key technology sectors—SaaS and marketing technology across India and Southeast Asia. 

Leadership comments

“Wingify is among a selectset of highly profitable,software companies emerging out of India that have carved a leading position globally. It is our second significant investment in the marketing technology space in the past 18 months. We congratulate the founders, Paras and Sparsh, on their journey and look forward to working with Sparsh and his team in Wingify’s next phase of growth.” said Sandeep Singh, Managing Director, Everstone Capital.

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Co-founder & CEO Sparsh Gupta and the leadership team will continue to hold a substantial equity stake in Wingify, retaining a majority of their shareholding to collaborate with Everstone in driving the company’s next phase of growth.

“We are confident that our partnership with Everstone will enable us to accelerate our expansion plans and further strengthen our global footprint. This paves the way for us to scale new heights in innovation and market reach,” said Sparsh.

Wingify founder to remain on the board

Paras Chopra, Founder of Wingify, will continue to be a shareholder and remain on the board of the company.

“I am confident that Sparsh and the Everstone team possessthe expertise and vision to lead the business through its next phase of success. I look forward to remaining involved as a shareholder and board member, providing guidance and support to ensure the company’s continued achievements,” said Paras. 

This investment marks one of the most prominent software buyouts in India, underscoring Everstone’s confidence in the country’s thriving technology sector.

What does Wingify do?

Wingify is one of the major India-origin SaaS companies that has achieved remarkable scale and profitability. Its flagship product, VWO, serves over 3,000+ global brands, helping them optimize digital experiences and drive business growth.

The company claims to have an Annual Recurring Revenue (ARR) exceeding $50 million and a significant global presence, with approximately 90% of its revenue generated from the US and Europe.

“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.

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