On Friday, Everstone Capital, a private equity firm based in Singapore, announced its acquisition of a majority stake in Wingify, the leading provider of the marketing technology SaaS product, Visual Website Optimizer (VWO). This innovative startup offers software-as-a-service (SaaS) solutions tailored for online businesses, aimed at improving their conversion rates through the flagship tool VWO.
The agreement incorporates a substantial investment designed to enhance VWO’s product development and facilitate its international expansion. Sparsh Gupta, the Co-founder and CEO of Wingify, along with the leadership team, is set to retain a significant equity share in the company, thereby maintaining majority ownership, as confirmed in the company’s statement.
**Sandeep Singh**, Managing Director of Everstone Capital, remarked that Wingify is part of an elite group of highly profitable software companies emerging from India that have established a prominent global presence. He noted that this investment marks Everstone’s second significant venture into the marketing technology sector in the last 18 months. He expressed congratulations to the founders on their accomplishments and anticipation for collaboration with Sparsh and his team in Wingify’s upcoming growth phase.
According to a report by TechCrunch, which originally covered the story, the valuation of the deal is estimated at *$200 million*. Sparsh Gupta stated that he is optimistic about the partnership with Everstone, believing it will facilitate accelerated expansion and reinforce their global presence. He mentioned that this collaboration will allow Wingify to achieve new heights in innovation and market outreach.
Paras Chopra, the Founder of Wingify, will continue to hold a share in the company and maintain his position on its board. He expressed confidence in Sparsh and the Everstone team’s capabilities to steer the business through its next growth phase. He also looked forward to remaining actively engaged as a shareholder and board member, offering guidance and support to ensure the company’s ongoing success.
This acquisition represents one of the most significant software buyouts in India. Wingify stands out among a select few SaaS companies from India that have achieved over *$50 million in annual recurring revenue (ARR)*, with a strong market presence in the US and Europe, which collectively account for 90% of its revenue.
**Avnish Mehra**, Vice Chairman and Head of Private Equity at Everstone Capital, stated that Wingify enhances the robust technology portfolio at Everstone Capital, which includes investments across various sectors such as tech-enabled business services (including Omega, Everise, MediaMint), digital engineering (Apexon, C Prime), and software (Acqueon).
Everstone Capital, which is the private equity branch of the Everstone Group, oversees assets exceeding *$8 billion* globally. The firm focuses on mid-market, control growth, and cross-border investments in the technology, healthcare, financial services, and industrial sectors.
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