Everstone invests $150 million in Wingify
Private equity firm Everstone Capital has invested $150 million (Rs 1,381 crore) in Delhi-based SaaS company Wingify, adding to its earlier bet on the software maker as the company pursues global expansion through a merger with Paris-headquartered AB Tasty.
The fresh funding follows Wingify’s announcement that it will merge with AB Tasty to build a larger digital experience optimization platform. According to the source material, the combined entity is expected to compete more aggressively with global players in the enterprise segment.
Everstone led the round with an investment of Rs 1,250 crore. Existing shareholders also participated, including members of the Mankekar family, as well as Wingify CEO Sparsh Gupta and CTO Ankit Jain.
Founded in 2010 by Paras Chopra, Wingify built its flagship product VWO (Visual Website Optimizer) into a platform used by businesses to improve website conversions, run A/B tests, and personalize user experiences. The company remained profitable and bootstrapped for more than a decade, a path described in the source as uncommon in India’s startup ecosystem.
The latest investment comes after Everstone acquired roughly 80% of Wingify in early 2025 in a deal valued at around $200 million. The new capital signals a deeper push to scale the business, particularly through inorganic expansion, according to the source.
The planned merger with AB Tasty sits at the center of that strategy. Once completed, the combined platform is expected to employ more than 800 people across 11 global offices, with India making up more than half of the workforce. Nearly 90% of revenue is expected to come from markets including the United States and Europe.
Wingify’s financial performance showed both expansion and pressure during this period. The company reported revenue of Rs 401.56 crore in FY25, up 33.2% from the previous year. Net profit, however, fell to Rs 23.83 crore from Rs 61.05 crore a year earlier.
The source places the deal within a wider shift in software investing, noting that private equity interest in SaaS businesses has been rising even as valuations adjust amid the rapid evolution of AI tools. It also says that as software features become easier to replicate, scale and distribution are emerging as key differentiators, driving mergers and capital consolidation across the sector.
With the new funding secured and its cross-border merger underway, Wingify is positioning itself as part of a broader global platform play in digital experience optimization, according to the source.