MyGate Success Story: A Tell-Tale Saga of Three Technocrats
MyGate is an application-centric security and community management platform based in Bengaluru (India). It currently caters to the security requirements of over 1.2 million households in 11 major cities across Indian states. It ensures that only single confirmed guests are allowed in a particular society.
Key Facts You Need To Know About MyGate
- Name of the Organization: MyGate
- Legal Label & Parent Company: Vivish Technologies Pvt Ltd
- Areas of Interest: Security, Apps, SaaS
- Headquarter: Bengaluru, Karnataka
- Area of Operation: APAC
- Year of Inception: 2016
- Founder & CEO: Vijay Kumar Arisetty
- Co-Founders: Shreyans Daga, Abhishek Kumar
- Gross Funding: $67.4 Million
- Monthly Visitors: 24,000 approx (SemRush)
- Official Website: Mygate.in
MyGate Startup Story
The startup story involves a team of competent technocrats, namely Vijay Arisetty, Abhishek Kumar, and Shreyans Daga. They launched the MyGate app in Bengaluru in June 2016. The entire business gamut is run in the guise of Vivish Technologies, a company based in Bengaluru, India.
- Vijay Kumar Arisetty is an NDA and ISB pass out. He has enough experience in disaster management, which he acquired during his stint with IAF.
- Shreyans Daga is a former IIT-ISB graduate who is passionate about innovation. He was also a young designer in the Oracle ASCP unit.
- Abhishek Kumar is an alumnus of IIT Kanpur with an MBA from IIM Ahmedabad. He also assisted the Master Planning Group on the ON-AMIS coordinating project.
MyGate Case Study
MyGate operates on a simple business concept. Users/visitors will receive service and pay a subscription fee. To put it in another way, the MyGate app is a subscription-based app platform.
The monthly appraisal of the company is based on the number of residences in the general public domain. Every month, the average expenses come to the tune of as little as Rupee 30 (about $0.41). In addition, the MyGate overhead costs ranges from Rs. 7000 to Rs. 12,000 in each locality continually.
The MyGate success story is quite eye-catching. The company has created a space for itself in the realm of security and community management and have been named one of India’s most innovative firms. The company has over 1.2 million household users and is presently operating in more than 11 Indian cities. Every month, MyGate sees a 20% increase in its customer base. The company deals with 60,000 requests per minute and over 45 million monthly check-in queries.
The MyGate owners saw the limitations and flaws of security after moving into a gated community. There was no system in place. This led them to the idea of digitizing security checks and enabling validation at the threshold.