Singapore-based private equity firm Everstone Capital has acquired a majority stake in Wingify, a renowned global provider of the marketing technology SaaS product, VWO.
This partnership includes a substantial investment designed to boost VWO’s product innovation and drive international expansion.
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“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.
The acquisition underscores Everstone’s commitment to advancing the SaaS and marketing technology sectors across India and Southeast Asia. With its robust global go-to-market strategy, strong profitability, and technological expertise, VWO emerges as an ideal partner for Everstone.
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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 theirshareholding 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.
This investment represents one of India’s most significant software buyouts, highlighting Everstone’s confidence in the nation’s burgeoning technology sector.
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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.
Wingify stands out as one of the few India-born SaaS companies to achieve notable scale, surpassing $50M in annual recurring revenue (ARR) while maintaining strong margins and high profitability. The company boasts a substantial global footprint, with approximately 90% of its revenue generated from the US and European markets.
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About Everstone Capital
Everstone Capital is the private equity arm of the Everstone Group, a global investment firm managing assets exceeding USD 8 billion. Dedicated to fostering economic growth and creating sustainable value, Everstone Capital focuses on building exceptional businesses in collaboration with extraordinary talent across India and Southeast Asia.
About Wingify
Wingify is a prominent India-based SaaS company recognized for its impressive scale and profitability. Its flagship product, VWO, empowers over 3,000 global brands to optimize digital experiences and boost business growth, establishing Wingify as a leader in marketing technology solutions.
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