Singapore cybersecurity provider Evvolutions LeadTech files and sets terms for an $11 million US IPO
Evvolutions LeadTech, a Singapore-based technology reseller and cybersecurity provider, filed on Wednesday with the SEC to raise up to $11 million in an initial public offering.
The Singapore-based company plans to raise $11 million by offering 2.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Evvolutions LeadTech would command a market cap of $158 million.
February 10, 2026 News
Singapore cybersecurity provider Evvolutions LeadTech ups deal size by 43% ahead of $16 million US IPO
Evvolutions LeadTech, a Singapore-based technology reseller and cybersecurity provider, increased the proposed deal size for its upcoming IPO on Tuesday.
The Singapore-based company now plans to raise $16 million by offering 3.8 million shares （28% secondary） at a price range of $4 to $4.50. The company had previously filed to offer 2.5 million shares at a range of $4 to $5. At the midpoint of the revised terms, Evvolutions LeadTech will raise 43% more in proceeds than previously anticipated.
about Singapore Evvolutions LeadTech
Evvolutions is a cybersecurity provider offering a comprehensive suite of products and services, including threat detection, vulnerability management, compliance advisory, and ransomware negotiation. Operating in Singapore and Vietnam, it served approximately 111 customers in FY24, with a focus on government agencies, enterprises, and private organizations across Southeast Asia. The company operates four main business segments: Cybersecurity Solutions, DevSecOps Integration Services, Security Operations Centre （SOC） Management Services, and Secured Media and Information Technology Management Solutions （ITMS）。 In addition to its proprietary platforms and services, Evvolutions also acts as a reseller of IT hardware to support solutions integration.
The Singapore-based company was founded in 2011 and booked $8 million in revenue for the 12 months ended September 30, 2025. It plans to list on the NYSE American under the symbol EVVO. Evvolutions LeadTech filed confidentially on August 12, 2025. Network 1 Financial Securities is the sole bookrunner on the deal.
Business Description
Evvolutions LeadTech provides end?to?end cybersecurity and digital transformation solutions to public agencies and enterprises across Southeast Asia. Its offerings span Managed Detection and Response （MDR）， Endpoint Detection and Response （EDR）， SIEM?as?a?Service, web application firewall （WAF）， and a proprietary 24/7 Security Operations Centre （SOC）。 The company also integrates security throughout software development via DevSecOps services and delivers secured media and IT management solutions for high?security environments.
The company generates revenue from reselling hardware and software solutions, recurring and project?based services, and exclusive distributor fees. Evvolutions is developing its AI governance and security platform, Clear?AI, which includes Clear?Guard （AI security orchestration）， Clear?CISO （AI compliance and governance）， and Clear?Align （policy?to?evidence compliance mapping）。 Competitive advantages include public?sector references, certifications （ISO 27001, CREST, MTCS）， and an asset?light delivery model supported by strategic technology partnerships.
Market Overview
Total addressable market: Global cybersecurity market estimated at ~$219B in 2025 and projected to reach ~$563B by 2032 （Fortune Business Insights）
Market growth: Forecast CAGR of ~14.4% to 2032 （Fortune Business Insights） and ~12.9% to 2030 （Grand View Research）
Market position: Singapore-based provider serving public sector and enterprises across Southeast Asia with end?to?end offerings
Key competitors: ST Engineering, NCS, Singtel, StarHub （Singapore market）
Industry trends: Managed security services expansion, AI-driven detection and response, Zero Trust adoption, growing cyber insurance, and cloud security
Operational Metrics
Customers: 111 in FY 2024; 119 in FY 2025; 66 in the six months ended Sept. 30, 2025
Locations: Headquarters and SOC in Singapore; office in Danang, Vietnam
Geographic presence: Singapore and Vietnam with plans to expand in Southeast Asia, Africa （Uganda）， and India
Partnerships: Authorized indirect reseller arrangement with Imperva; collaboration with DataHouse Asia; non-binding MOU with Tan Insurance Brokers
Public sector exposure: Government agencies accounted for ~47.8% （FY2024）， ~22.4% （FY2025）， and ~65.4% （six months ended Sept. 30, 2025） of revenue
Certifications: ISO 27001, CREST, MTCS （SS584）， CSA Cyber Trust mark （Advocate）， BizSAFE Level 3
Supplier concentration: Key vendors accounted for 43% and 13% of purchases in FY2025
SOC operations: Proprietary 24/7 SOC launched in 2021
Planned expansion: Intended office launch in Kampala, Uganda in 2026
Financials Highlights
Revenue （current）： S$10,527,351 （US$7,829,938） for FY 2025
Revenue growth: 11.0% year over year （FY 2025 vs. FY 2024）
Gross profit: S$2,990,140 （US$2,223,980） （28.4% margin）
Operating income: S$1,567,814 （US$1,166,096）
Net income: S$1,225,228 （US$911,290）
Management
Wong Yee Leong, Director, Chief Executive Officer and Chairman – Over 25 years in technology, design and financial services; CEO of Evvo SG since 2011; BBA in Marketing from the University of Texas at Austin.
Chew Teck Shiong, Chief Operating Officer and Director Nominee – 25+ years in IT, digital lending and payments; former COO/CISO of Evvo SG; MBA （University of Leicester） and B.IT （University of Southern Queensland）； ISO/IEC 27001 Lead Implementer.
Peng Chee Yong, Chief Financial Officer – 15+ years in finance, audit, and capital markets; prior CFO roles including Nasdaq listing experience; Chartered Accountant （Singapore）， CPA Australia.
Lim Ngee Woon, Independent Director Nominee – 27+ years across operations, finance and audit; leadership roles in manufacturing, healthcare IT and events; EMBA （California State University, Hayward）。
Nguyen Minh Son, Independent Director Nominee – Extensive ICT policy and planning background in Vietnam’s Ministry of Information and Communications; DBA and Master’s in Economics.
Wilson Chandra, Independent Director Nominee – Digital marketing and growth executive; Group President and Director at Knorex; MS in Electrical Engineering （USC）。
IPO Structure
Issuer: Evvolutions LeadTech Inc
Filing date: 20251210115326
Proposed ticker: EVVO
Exchange: NYSE American
Price range: US$4.00–US$5.00
Offering size: Approx. $11.25 million gross at midpoint
Shares offered: 2,500,000 Class A Ordinary Shares （45-day 15% over-allotment option）
Lead underwriters: Network 1 Financial Securities, Inc. （Representative）
Use of proceeds: 20% product development; 25% business and operational scaling; 30% exploration of M&A 25% general admin, working capital and loan repayment
About the Company
We are an end-to-end cybersecurity provider in Singapore which aims to empower businesses through digital transformation by leveraging digital media, artificial intelligence （“AI”）， Internet of Things （“IoT”）， and mobility and cloud computing. We modernize, migrate and manage our customers’ technology stack, helping them to operate more securely and efficiently in an increasingly complex digital landscape. Our cybersecurity expertise, coupled with our multidisciplinary capabilities, positions us as a potential technology partner for public sector agencies and private enterprises as they navigate the future of digital transformation. We have successfully delivered projects across Southeast Asia, supporting industries such as financial services, supply chain, healthcare, manufacturing and government, and have been recognized by the Infocomm Media Development Authority （“IMDA”） in Singapore as one of the curated ICT firms offering ready and relevant digital solutions to meeting the digitalization needs of corporations. Since our establishment in 2011, we have transitioned from a media solutions company to a business focused on cybersecurity solutions and emerging technologies, while still providing secured media and ITMS solutions to niche industries. With operations in Singapore and Vietnam, we have built a reputation for delivering large-scale, innovative and secured digital transformation solutions to government agencies, financial institutions, healthcare organizations and private enterprises.