EVVO
Industry:
IT Services
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DESCRIPTION

Evvolutions LeadTech is a Singapore-based IT solutions company that sells cybersecurity products and services to Singapore government agencies and private enterprises. The company operates as an authorized reseller of third-party cybersecurity products — including Fortinet, Mimecast, and Imperva — bundling hardware and software into integrated turnkey systems for customers. Alongside reselling, Evvolutions provides managed security services, SOC monitoring, technical consulting, software integration, and CISO-as-a-Service, typically on 12–24 month subscription or fixed-fee contracts. Government agencies and statutory boards are the dominant customer base, and Evvolutions wins public sector work primarily through competitive tenders. Hardware resale has historically been the larger revenue stream but carries thin margins; management is deliberately shifting the mix toward higher-margin services. Revenue is lumpy and project-driven, as recognition depends on delivery milestones, and government procurement cycles directly drive top-line variability. Evvolutions is also developing Clear-AI, a proprietary AI governance and compliance platform currently in beta, which would represent a shift toward recurring software revenue if commercialized. Geographic expansion into Southeast Asia and Africa is also underway, with operations in Vietnam and a planned presence in Uganda. The company is small, with FY25 revenue of approximately S$10.5M, and is conducting an IPO to fund M&A exploration and product development.

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