Everstone acquires bootstrapped Indian SaaS startup Wingify in $200 million deal

Private equity firm Everstone has secured a majority stake in Indian SaaS startup Wingify in a deal valued at approximately $200 million, TechCrunch reported, citing three sources familiar with the transaction. The acquisition, finalized earlier this week, highlights Wingify’s remarkable journey as one of India’s most celebrated bootstrapped SaaS companies.

Wingify is best known for its flagship product, VWO (Visual Website Optimizer), a widely used platform for website testing and conversion rate optimization.

Paras Chopra founded the startup in 2010 and has since grown into a global player, serving over 4,000 clients across 90 countries. What makes Wingify’s story stand out is its bootstrapped origins—Chopra built the company entirely without external funding, relying on organic growth and reinvestment of profits to scale over the past 15 years.

The $200 million deal is a major milestone for Chopra, who has steered the SaaS startup to success without any external funding since its inception 15 years ago. It’s a significant exit for Chopra, who will retain a minority stake in the company as it transitions into its next phase of growth.

With a strong foundation in machine learning, Chopra founded Wingify with a clear mission to help businesses create and deliver exceptional customer experiences on their websites and apps. His vision led to the creation of VWO.

Unlike 90 percent of failed startups, the Delhi-based Wingify has been profitable for years, with its annualized revenue recently hitting $50 million. The achievement underscores Wingify’s ability to scale sustainably while staying true to its bootstrapped roots.

While neither Wingify nor Everstone has officially commented on the deal, the acquisition speaks volumes about Wingify’s global appeal. The company serves over 4,000 clients across 90 countries, competing head-to-head with established players like Optimizely and Google Optimize. Its success is a testament to the power of building a product that truly resonates with its users.

For Everstone, this deal is a strategic addition to its expanding technology portfolio. The private equity firm has been actively scouting for profitable, bootstrapped companies with global potential, and Wingify fits the bill perfectly. Its ability to grow without venture capital backing makes it a rare gem in India’s bustling tech ecosystem.

This acquisition isn’t just a win for Everstone and Wingify—it’s a nod to the broader potential of India’s SaaS industry. It’s a story of resilience, vision, and the kind of organic growth that inspires founders everywhere. For Paras Chopra, it’s a well-deserved moment in the spotlight after 15 years of building something truly remarkable.