In a fresh push into India’s enterprise software space, private equity firm Everstone Capital has infused $150 million (Rs 1,381 crore) into Delhi-based SaaS company Wingify, founded by Paras Chopra and now led by CEO Sparsh Gupta alongside CTO Ankit Jain, underscoring growing momentum in digital experience platforms and a broader wave of consolidation in the global SaaS market.
The investment comes shortly after Wingify announced its merger with Paris-headquartered AB Tasty, a move aimed at building a scaled, global digital experience optimisation platform. 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, while existing shareholders also participated. These include members of the Mankekar family, along with Wingify’s leadership, CEO Sparsh Gupta and CTO Ankit Jain.
For Wingify, this marks a sharp shift from its early years. Founded in 2010, the company built its flagship product VWO (Visual Website Optimizer) into a globally used platform helping businesses improve website conversions, run A/B tests, and personalise user experiences. It did so while remaining profitable and bootstrapped for over a decade, an uncommon path in India’s startup ecosystem.
That trajectory began to change in early 2025, when Everstone acquired roughly 80% of the company in a deal valued at around $200 million. The latest infusion indicates a deeper commitment to scaling the business, particularly through inorganic expansion.
The merger with AB Tasty is central to that strategy. Once completed, the combined platform is expected to have over 800 employees across 11 global offices, with India accounting for more than half of the workforce. A significant portion of its revenue, close to 90% is expected to come from markets such as the United States and Europe.
Wingify’s financials reflect both growth and transition. The company reported revenue of Rs 401.56 crore in FY25, marking a 33.2% increase from the previous year. However, net profit declined sharply to Rs 23.83 crore from Rs 61.05 crore a year earlier, indicating increased investments and strategic shifts underway.
The broader context is equally telling. Private equity interest in SaaS businesses has been rising, even as valuations adjust amid the rapid evolution of AI tools. As software features become easier to replicate, scale and distribution are emerging as key differentiators, driving mergers and capital consolidation across the sector.
Wingify’s next phase appears aligned with that trend. With fresh capital in place and a cross-border merger underway, the company is positioning itself not just as a product player, but as part of a larger global platform play in digital experience optimisation.
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