Everstone Capital, a Singapore-based private equity firm has acquired a majority stake in Wingify, a global provider of marketing technology SaaS product, VWO. According to TechCrunch, the deal is estimated to be valued at $200 million.
VWO serves over 3,000+ global brands, helping them optimize digital experiences and drive business growth. The company boasts 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 deal includes a significant investment to drive VWO’s product innovation and international expansion.
Paras Chopra, Founder of Wingify, will continue to be a shareholder and remain on the Board of the company. Co-founder and CEO, Sparsh Gupta and the leadership team will continue to hold a substantial equity stake in Wingify, retaining a majority of their shareholding.
This highlights Everstone’s focus on supporting two key technology sectors: SaaS and marketing technology across India and Southeast Asia. VWO, with its established global go-to-market capabilities, strong profitability, and technological leadership, presents an ideal partnership opportunity.
“Wingify is among a select set 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.
“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.
“I am confident that Sparsh and the Everstone team possess the expertise and vision to lead the business through its next phase of growth and 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 Sparsh Gupta, Co-founder and CEO.
“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.
Everstone Capital is the Private Equity business of the Everstone Group, a global firm with assets under management exceeding $8 billion. The firm focuses on mid-market, control growth, and cross-border opportunities spanning Technology, Healthcare, Financial Services, and Industrials.
