Private equity firm Everstone has reached a deal to acquire a majority stake in Wingify, one of India’s earliest bootstrapped software-as-a-service success stories, for about $200 million, three sources familiar with the matter told TechCrunch.
The deal, finalized this week, marks a significant exit for Wingify’s founder Paras Chopra, who built the SaaS startup without external funding since its inception in 2010.
Delhi-based Wingify has grown from a two-person startup into a profitable global software provider with over 6,000 clients. Its flagship product, Visual Website Optimizer (VWO), helps businesses improve their online conversion rates through A/B testing and customer experience optimization.
The startup’s annualized revenue runrate recently touched $50 million.
Chopra, who owned 71% of Wingify before the acquisition, will retain a minority stake in the firm, one of the sources said. Wingify and Everstone didn’t immediately respond to requests for comment.
Wingify serves over 6,000 clients across 90 countries, competing with global players like Optimizely and Bloomreach. Wingify’s product suite is priced based on visitor volume, ranging from a free tier for up to 50,000 visitors to enterprise plans costing $70,000.
The acquisition adds to Everstone’s growing technology portfolio. The private equity firm has been actively investing in India’s technology sector, seeing opportunity in profitable, bootstrapped companies with global reach.