# EvonSys

🏆 World Leader in low-code software development.

## Elevator pitch
We transform software applications for enterprises using low code workflow platforms.

- Canonical URL: https://wefunder.com/evonsys
- Entity ID: wefunder:company:72232
- Last updated: 2026-06-07T05:02:16Z
- Generated at: 2026-06-08T02:54:46Z

## Quick facts
- 💰 $14.6 million revenue; $2.6 million cash in hand
- 🧑🏽‍🤝‍🧑🏽 400+ employees; 🌎 4 global locations; 💸 $359.6 earning per share in 2021
- 🚀 200% revenue growth on a year-by-year basis
- 😯 Disrupting the $3.6 Trillion (Yes, with a T) digital transformation industry with a CAGR of 16.1%
- 📣 Major clients including global banks, financial institutions, and insurance companies
- 🏆 Winner of Pega's Delivery Excellence Award 2021 - The Noble Prize in Software Dev. Industry
- 📈 Well established company with huge growth potential; not a high-risk startup

## Active fundraises
- wefunder:fundraise:64788: 506(c) successful (USD)
- wefunder:fundraise:47148: 4(a)(6) successful (USD)
- wefunder:fundraise:47149: 4(a)(6) successful (USD)

## Story
What fuels the business world today? Speed, Agility, and Innovation. So obviously when it comes to software development, the expectations are NO different. Businesses today want to build applications through clicks not codes, make application changes without relying on IT, and they most definitely want the future of programming to be OPEN.In such times, EvonSys brings the power of coding into the hands of people through low code platforms that democratize the playing field in software development. This means any business team can build applications without worrying about costs and infrastructure, better utilize resources with limited coding knowledge, and most importantly fast track their road to digital transformation!Low code and no code software companies are high on the investors’ radar after companies such as Webflow and Bubble, which raised over $100 million, currently have a market value of over a billion dollars.Investors are placing big bets on the low code revolution frankly because the market is set for explosive growth and is expected to rise from $13 billion in 2020 to $65 billion in 2027 at a whopping 26.1% CAGR. (Statista). Even industry behemoths are strongly advocating for low code platforms making it a disruptive trend that businesses and investors alike just cannot afford to miss out on.EvonSys’ intuitive low code tools and templates empower users to build enterprise-grade applications in minutes. Instead of waiting for ages for IT to get back, teams can now build and roll out minimum viable products, breeze through application changes, and automate complex processes through simple drag-and-drop features. For organizations that want to leverage the power of Robotic Process Automation, Artificial Intelligence, and Machine Learning, our low code interface automates workflows with ease and offers flexibility to build, scale, and drive software solutions. We believe the best innovation is simplified and no one should fail at digital transformation.We are the solution of choice both for small and large-sized firms as we fill gaps in varied business environments. Large software vendors might have a huge workforce, but their average skills may also be on the lower side. On the other hand, niche tech firms will often be keen to tailor solutions that cater to every client's specific requirement but lack the workforce. EvonSys sits at the sweet spot in this quadrant graph, offering the best of both worlds!Today, we have a treasure trove of case studies in the banking, financial, healthcare, and government verticals that are infamous for their legacy approaches. A move towards low-code solutions, especially in traditional sectors is a sign that a new era in simplified innovation and software development is here to stay.One of the biggest inhibitors in digital transformation for companies is the ability to build, run, and scale software as fast as they would like. A major reason for this setback is a resource crunch as developers that conventionally built applications are in short supply. A McKinsey survey recently reported that 87% of businesses are already seeing a developer shortage or anticipate one in a few years.The outcome? Organizations are left with extensive software to-do lists and backlogs that seriously hits business growth. In this scenario, low code software development is an obvious choice for companies as it’s up to 10 times faster than traditional software development. (Forrester Study).Most market studies are indicative that low code platforms are not a passing trend but it’s the need of the hour. According to Gartner, low-code will account for more than 65% of application development by 2024. Low code platforms are experiencing massive adoption not only because it provides digital agility, but it also enables optimum utilization of existing resources, replaces complicated codes with easy-to-use, visual tools, cuts back on unnecessary hires, and allows developers to focus on complex engineering tasks. According to Mckinsey’s research, the coronavirus pandemic pushed digital adoption in companies five years forward. Enterprises today are not only open to more and more digital tools, but it turns out low code platforms are just the solution they need.As a result, even in the crippling clasp of the pandemic, EvonSys went on to generate revenues and build its client portfolio. Here is a snapshot of our accomplishmentsWe have grown consistently over the years and helped companies scale their platforms and take their applications to the next level with our low code solution.To wrap things up, here is a small story. It took Smartphones almost a decade to reach 10% adoption and only 2.5 years to climb from 10% to 40%.The transition from hand-made to low code is real, it’s already here, and you can stand to win. For investors, this is the perfect time to acquire Early-Stage shares and join the EvonSys family. Come INVEST and Grow with US!"Much like the proverbial early bird, this is the right time to tap into this veritable goldmine. Be the early bird and cruise along with our exceptional growth trajectory." - Arun, CEO and Co-founder

## FAQ
1. **Hi, you don't seem to provide any real information or details on what exactly EVONSYS does. What is your product? How do you generate revenue? What is your competitive advantage? I'm beginning to wonder who would invest a half a million dollars with such little information pro...**
   - Hi Kim - EvonSys is a software service provider, helping enterprise transform their software systems. We generate revenue from those project implementations(Our financials are being reviewed, so its yet to be updated here. In a nutshell, we are not in start-up stage and we have been doing business for last 6 years with profitable income). Our specialty is low code platform implementation. Enterprises are moving to low code platforms, as the implementation time is very less compared to traditi...
2. **Hi, Can you please provide additional information on current revenue / ARR, the mix between recurring/subscription revenue and non-recurring, and cash flow? Also, what is your client retention? Sorry if I missed but I didn't see any financial information in the materials.**
   - Hello Benji - our financials are being audited now and expected to publish by end of the month. As a service business, we don’t have subscription revenue. But, for the last five years, we have 100% client retention. Please wait till the audited financials to be ready to see the detailed financials. Thank you for your interest on evonsys.
3. **Hi Punna, What is your target maximum raise? Please advise. Thanks so much. Blessings**
   - Hi Kim- We are targeting for the Reg CF maximum(5M). Without an audit, we were not able to keep it beyond 1.07M. Once the audit is complete, we will be resetting the max from 1.07M to 5M.
4. **What makes your company unique / what's the competitive advantage that the company has over other low-code platforms?**
   - Our USP is the accelerators we build on top of the low code platforms. We have in-house talent who specialize in vertical industries. For eg, If you look at our services, we have a payment investigation product accelerator. When a large bank invests on a low code platform, they aim to build their payment investigation platform within a year and we reduce that time with our accelerator to 6 months.
5. **Hi, do you all plan on remaining an LLC for tax purposes post-SAFE conversion?**
   - We have already become an INC. you can see this in our audited financials full report. We have also filed to change from S corp to C corp

## Team
- Punna Paramasivan (Chief Technology Officer)
- Arun MS (Chief Executive Officer)
- Nishadha Fonseka (Executive Vice President)
- Daniel Edward Mueller (Campaign Manager)

## Q&A
- Q: Thank you for your answers thus far. Mine are slightly duplicative, but not exactly. 1) What, if any, has been your interest from VC? A lot easier to go public with VC support. Have you had any? 2) can you be more specific how you're differentiating from other low code companies.. which there seem to be many. 2a) Why do customers choose you over next best option?
  - A: 1. VC will be engaged in future rounds, at this moment we want to make sure the F&F gets the first chance. 2. We are a low code services provider, which means we work with the top low code platforms and not compete with them, rather compliment them. 2a. Customers choose us due to various reasons. Mainly I would summarize it with the value they get is the primary differentiator. They get a jump start package to accelerate their digital journeys, which may not be available with our competitors.
- Q: Hello, I forgot what the early bird valuation was,, can you please remind. Also, in one of your replies to a question someone asked here in chat, you wrote that "the valuation has already increased a lot already between launch and now". Can you kindly clarify what you mean? Thank you
  - A: Early bird was at 18M or 25% discount. The new partnerships with Mendix and Swift are strategic ones and that’s what I meant by increased valuation.
- Q: Hi, Thanks for bringing the opportunity and congratulations on the impressive growth. After reading your materials, I have a few questions, would love to hear your thoughts. (1) Could you provide guidance on 2021 revenue and net income? Rough estimates, ranges or YoY growth would be great already. (2) What made you choose crowdfunding to raise capital instead of other institutional parties? (3) Are you planning to expand to other low code platforms beyond Pega? (4) Was wondering about your goal for this campaign and when it closes. I saw you mentioned a $5m goal. I like the ambition, but thats an amount that is generally beyond the limits of crowdfunding as an instrument. What will you do if it seems you will not reach that goal? Do you have a definitive deadline for the raise? Thank you and have a nice day, Marlin
  - A: Great Questions.. 1. We haven't filed this yet. But, Evonsys and subsidiaries have done closer to 20% more than 2020. 2. We wanted our friends and family and our extended circle of clients, wellwishers to be benefitted first. We saw this as a better opportunity than talking to them on a individual basis. Also, we are establishing better with a platform like Wefunder. 3. Yes. 4. Our definitive deadline will max by Apr 30, 2022. 5M is the highest possible goal on Reg CF :) . The company is cash rich to grow further and any investments from Reg CF will make it bigger. On a side note, 2M would be a good number to establish us further in any new geography.
- Q: What makes your company unique / what's the competitive advantage that the company has over other low-code platforms?
  - A: Our USP is the accelerators we build on top of the low code platforms. We have in-house talent who specialize in vertical industries. For eg, If you look at our services, we have a payment investigation product accelerator. When a large bank invests on a low code platform, they aim to build their payment investigation platform within a year and we reduce that time with our accelerator to 6 months.
- Q: Hi, you don't seem to provide any real information or details on what exactly EVONSYS does. What is your product? How do you generate revenue? What is your competitive advantage? I'm beginning to wonder who would invest a half a million dollars with such little information provided?! Please advise. Thanks. Blessings
  - A: Hi Kim - EvonSys is a software service provider, helping enterprise transform their software systems. We generate revenue from those project implementations(Our financials are being reviewed, so its yet to be updated here. In a nutshell, we are not in start-up stage and we have been doing business for last 6 years with profitable income). Our specialty is low code platform implementation. Enterprises are moving to low code platforms, as the implementation time is very less compared to traditional software development. We are well known in the low code software services industry, and we believe that may be the reason for your comment on investment. We understand the wefunder community is huge/diversified and we will update our video with more information to make it easy for our investors. We also suggest you to check our website www.evonsys.com on case studies section, which talks about what we did for our enterprise clients. Thank you for your interest in evonsys and helping us. Feel free to ask any further questions.
- Q: I called computershare for the 10th time today. No shares. Any help?
  - A: Hi Adam - Hope your question is answered and able to login to computershare. Pl feel free to update your exp with computershare, so its helpful for others.
- Q: I have called every day to computershare, they said they have no record of our account with evonsys. Any help?
- Q: For anyone wondering, 2023 revenue was a little over 21m, and they recently raised a reg D at 78m or $0.80 per share and are planning on raising again this year presumably at a higher valuation.
  - A: Thank you.
- Q: Thank you for answering all the questions. I keep getting them. Ihaven't seen addressed yet. 1. With 400+ employees, that's $40m in payroll--2x sales. I understand build out to a point. 2. When do you forecast profitability? Huge burn rate for a $1m raise. 3. How scalable is your service? Thank you again.
  - A: Some assumptions are wrong, Jeremy. #1 - Our payroll is not 40M. Please check the published audited financials #2 - We are already profitable, its there in details and financials, again. #3 - Scalability is achieved by building reusable modules. When the service teams are not assigned to a project/client, they do research and build some utilities. These utilities comes in hand when new client is acquired. Also, adding more people is another way of being scalable.
- Q: Why does it take 4 months to get an approximate financial for a small company? Europe and Asia have email. Not trying to sound skeptical, rather curious?
  - A: You need to think about US, Netherlands, Srilanka, India and Australia. Now each of the countries has its own end of tax year. For eg, India and Srilanka ends by mar 31. US Taxes needs to be paid by Mar 15 as an scorp. Rest of countries are still due in terms of taxes. Now the finance team is busy filing taxes country by country. That’s their first priority. Consolidating all finances will be after that and that takes time with currency conversion and with accounting done in accrual vs actual needs to be considered. It’s not a small effort. Also, I don’t think we are a small company in wefunder list of companies. Please check everyone’s form c :) , you will understand how big we are
- Q: Why does the revenue/profit graph reflects 2020 Revenue/Profit per the financial statements as 2021? Can you share your preliminary 2021 revenue?
  - A: 2021 is still under consolidation, we have other entities in Asia and Europe which is consuming time. I am hoping to publish it before the round closes
- Q: 1 times forward sales I feel like a bandit……… love the honesty of management
  - A: Thank you for your trust and investment, Eliezer !!
- Q: Hi, are you planning to pay dividends once you did the IPO? What is your expected Valuation at IPO?
  - A: Yes, once we go public, dividends will be paid out. On the lower scale, IPO valuation will be atleast at 100M. It can go upto 500M based on several partnerships/expansions planned in the next two years.
- Q: What does future growth look like? Also is there any recurring revenue or do you just do a one time set up for these companies??
  - A: Future growth is very promising, got new partnerships and working on more. We are also developing SAAS products, where we are looking at continuous revenue. Even today, clients have many needs and the digital transformation efforts are not one time setup, so revenues are re-occuring today as well.
- Q: Why such a low valuation??? I love it just curious
  - A: We started with humble beginnings and wanted to make sure our friends and family and extended network has a good appreciation, so lowballed it. Thank you for the trust with EvonSys :)