Digital experience optimization company Wingify is strategically pivoting towards mergers and acquisitions to power its next stage of expansion. This marks a significant change in direction for the Software-as-a-Service (SaaS) firm, which is now aggressively chasing larger enterprise clients following a major investment from private equity.
The Everstone Catalyst and a New Growth Pipeline
The strategic shift gained momentum after private equity firm Everstone Capital acquired a majority stake in Wingify for $200 million in January 2025. This infusion has provided the company with the resources and strategic mandate to explore inorganic growth avenues. Sparsh Gupta, co-founder and CEO, highlighted that being part of Everstone has granted them far greater access to build an acquisition pipeline.
"There's definitely a pipeline of businesses that we're talking to right now," Gupta stated in an interview. He emphasized that while the company historically focused on organic growth, it is now equally considering inorganic methods to add value for its customers.
Blitzllama Acquisition and the Enterprise Revenue Goal
Demonstrating this new approach, Wingify recently announced its first acquisition in nearly a decade, purchasing AI-powered user research startup Blitzllama for an undisclosed sum. Blitzllama, part of Y Combinator's Winter 2022 cohort, had previously raised $500,000 from investors including Y Combinator itself.
This move is directly tied to a core strategic objective: expanding its enterprise business. Traditionally, Wingify's revenue came 75% from small and medium businesses (SMBs), with enterprises contributing the remaining 25%. The company now aims to flip this ratio, targeting for enterprise customers to contribute 50% of its revenue within the next two years.
To achieve this, Wingify is focusing on securing six-figure deals initially, with ambitions to eventually land contracts worth up to $5 million. This push comes even as the company navigates financial pressures; in FY25, its profit fell 61% to ₹24 crore from ₹61 crore in FY24, driven by a significant rise in employee costs, despite operating revenue growing to ₹386 crore.
Strategic Filters: Product Fit and Market Access
Wingify's acquisition strategy will operate on two primary fronts. The foremost filter is product integration, seeking companies whose intellectual property can seamlessly enhance its flagship VWO (Visual Website Optimizer) platform. The second key consideration is gaining access to new markets and customer bases.
"There could be some acquisitions which are largely driven by market access," Gupta explained, noting the company's recent geographic expansion into West Asia and Africa, and leadership hires in Australia and Japan.
Industry experts see this as part of a broader trend. Shravan Shetty of Primus Partners noted that consolidation and acquisition activity is synergistic, helping startups scale while allowing acquirers like Wingify to rapidly add new capabilities, especially in the competitive AI landscape.
As part of its enterprise focus, Wingify is also sharpening its sectoral targeting. It is now prioritizing industries with high online traffic and transaction volumes where digital experience optimization is critical, including e-commerce, travel and aviation, media, SaaS, and banking and financial services.
