Synopsis
Software firm Wingify secured Rs 1,381 crore in a new funding round led by Everstone Capital. This investment follows Wingify's recent announcement of a merger with AB Tasty. The combined entity aims to become a major global platform for digital experience optimization. Existing shareholders also participated in the funding round.The infusion comes close on the heels of Wingify announcing a merger with Paris-based rival AB Tasty to create a $500 million software platform. As part of the deal, Everstone is set to buy — pending regulatory approval — the stake of certain AB Tasty shareholders and become the majority owner of the combined entity.
For over 14 years, Delhi-based Wingify, which has been profitable, remained bootstrapped. In early 2025, Everstone acquired roughly 80% of the company for about $200 million, which made it one of the largest cash buyouts in the enterprise software sector.
Everstone led the latest funding with an investment of Rs 1,250 crore (around $135 million), followed by Vyom Mankekar with Rs 84 crore. The remaining amount was contributed by existing shareholders, including Shivanand Mankekar (Rs 28 crore), Laxmi Mankekar, Kedar Mankekar, and others. Gupta invested Rs 7.5 crore.
Founded in 2010, Wingify runs VWO (Visual Website Optimizer), an experience optimisation platform, which helps over 3,000 brands improve website conversion rates, conduct A/B testing, and personalise visitor experience.
The merger with AB Tasty is expected to create a larger digital experience optimisation platform globally, competing with players such as Bloomreach, Optimizely, and Adobe in the enterprise segment.
Emails sent to Wingify remained unanswered till press time.
Earlier, in an interview to ET, Gupta had said, “We are definitely seeing a lot more PE interest in the SaaS and broader software industry. SaaS has come of age. There’s a lot more predictability in the business model now. There’s more stability and permanence in how these companies operate.”
He added that Wingify will be looking at other inorganic growth opportunities going forward. The integrated entity post the merger with AB Tasty will have over 800 employees across 11 global offices, with India accounting for a little over half the headcount. Nearly 90% of the revenue will come from the US and Europe.
ET had reported on March 2 how PE firms were eyeing stake in SaaS companies as valuations reset against the backdrop of AI tools that are reducing feature differentiation across categories.
Wingify clocked revenues of Rs 401.56 crore in FY25, up 33.2% from Rs 301.5 crore a year ago. However, net profit dropped around 60% from Rs 61.05 crore to Rs 23.83 crore.
Former CEO and founder Paras Chopra, who now runs an AI lab called Lossfunk, exited the company during Everstone’s investment, selling most of his stake.
The latest fundraise was first reported by Entrackr.
