Wingify, the parent company of experimentation platform VWO, has raised Rs 1,381 crore (around $150 million) from majority investor Everstone Capital and existing shareholders via a rights issue, Entrackr reported on Monday citing regulatory filings.
The company allotted over 1.6 million shares at Rs 8,590 apiece to raise the capital. Everstone contributed the bulk of the funding with Rs 1,250 crore, while Vyom Mankekar invested Rs 84 crore. Other existing shareholders, including members of the Mankekar family and Chief Executive Officer Sparsh Gupta, participated in the rights issue.
Investment backdrop
The investment follows Everstone’s acquisition of a majority stake in Wingify in a $200-million deal in January 2025, in one of the largest SaaS transactions. Prior to the acquisition, Wingify was a bootstrapped company.
The fundraise comes alongside the planned merger of VWO with AB Tasty, aimed at building a global digital experience optimisation platform with a strong footprint in the US and Europe.
Founded in 2010, Wingify offers SaaS tools to help businesses improve online conversion rates. It reported a 34% rise in revenue to Rs 386 crore in FY25, though profits declined sharply due to higher employee costs.