MyGate- Securing the Gated Complex

MyGate Startup Success Story

One of the major factors that one considers before buying an apartment is its security arrangements. Though many builders promise full proof security to the residents, as a matter of fact, in many gated societies, still the security checks are done manually. Some societies do adopt technologies like CCTV camera, alarms and electronic monitoring systems, however, these technologies have their own drawbacks as they require regular maintenance, and fails to record required details of every entrant. Again, the biometric recognition system, though helpful, is overly priced and also suffers occasional lapses in their read rates. The latest in the field of gate management that is simpler and hassle-free is the mobile app-based security management solutions. MyGate a Bangalore based startup, is one of the foremost app based security management solutions provider in India.

Startup Name MyGate
Headquarter Bangalore
Founders Vijay Arisetty, Shreyans Daga & Abhishek Kumar
Sector Gated Community Management
Founded 2016
Parent Organization Vivish Technologies Pvt. Ltd

About MyGate
Security Services Industry in India
Founders of MyGate and Team
How was MyGate Started
MyGate - Launching Startup
What is MyGate
MyGate - Revenue Model
MyGate - Funding and Investors
MyGate - Startup Challenges
MyGate - Competitors
MyGate - Growth
MyGate - Future Plans

About MyGate

MyGate is an app-based security and community management solution that is simplifying the gated complex for over 500,000 homes in 11 major cities. MyGate ensures that only verified visitors enter your society. Besides, by using the MyGate app one can easily do the tasks like finding top rated maids, maintenance staff etc; paying maintenance bills; booking amenities like the function hall or the badminton court etc; stay connected with the other members of the society and much more.

Once the managing community of a gated society signs up with the MyGate app, the MyGate team creates all the backend database of the security personnel and all the required digital profiles, they train the guards, and the app is deployed within 5-7 days. Once the management committee subscribes to MyGate's services, the residents of the society can use the app without paying any extra charges. The MyGate app can be downloaded from Apple app store and Google Play Store.

The managing committee of the societies can also ask for demo. The MyGate team offers a detailed demo regarding the onboarding, deployment and usage of the MyGate app to all the categories of users, i.e security personnel, residents etc.

Security Services Industry in India

According to a report by Grant Thornton India LLP and FICCI, The Indian security industry (including both manned security services and security systems segment) was INR 40,000 crore in 2014 and is expected to reach INR 80,000 crores by the year 2020.

The reasons for this growth is the increase in the number of industrial complexes, public infrastructure, residential complexes and the enormous opportunity presented by government initiatives like ‘Smart Cities’ and ‘Make in India’.

According to the report, while manned guarding occupies 75-80% share in the Indian security industry, the rest 20-25% share is occupied by cash and electronic security services. More than 45 million people in India today live in gated communities, and that figure is growing by 13% each year. The private security industry in the country is a $15 billion market.

MyGate Founders and Team

MyGate was founded by Vijay Arisetty, Abhishek Kumar and Shreyans Daga in the year 2016.

Vijay Arisetty is the CEO of MyGate. Vijay is an NDA- ISB alumnus, and prior to plunging into his entrepreneur journey, Vijay was a pilot with Indian Air Force for 10 Years. He played a pivotal role in managing disaster relief operations by air, land and sea, handling the security of air bases, VVIP flying, pilot training and military flying operations. He was awarded Shaurya Chakra (Peacetime Gallantry Award) in 2004 for his contribution in rescuing over 300 tsunami victims in under 3 hours at Andaman & Nicobar Islands.

Vijay served as a Vice President at Goldman Sachs for 4 years. He is also an experienced entrepreneur having previously founded two other startups Pyngcabs (2011) and Kitchens Food (2014).

Vijay Arisetty, MyGate CEO

MyGate app co-founder Abhishek Kumar is an IIT Kanpur graduate and holds an MBA degree from IIM Ahmedabad. Before founding MyGate, Abhishek was Vice President at Goldman Sachs for 6 years. He was responsible for driving business strategy and execution, key initiatives (e.g. outsourcing), economic architecture models, finance and hiring. He was also associated with ON Semiconductors for close to 5 years and i2 Technologies for 3 years respectively.

Shreyans Daga is the CTO at MyGate. He is an IIT- ISB alumnus who is deeply passionate about technology. Over the span of 14 years, he has built several apps & websites and is constantly working to introduce innovative products.

MyGate has 700+ team members. A large technology team sits out of its headquarters in Bangalore. The company has offices in each of the 11 cities it is operating, to ensure seamless onboarding of the gated communities.

MyGate Logo

How was MyGate Started

The idea behind MyGate app was born out of Vijay's personal experience of living in a gated society.

After moving into a gated community, Vijay became keenly aware of the lack of security. Despite the increase in people entering the community, there was no system to monitor the delivery executives, maids, etc. This made him think of digitizing the gate at all gated communities. After speaking with members of different gated communities (and even working as a security guard for a few days to understand the challenges of their work), Vijay realized that there was a real need for such a product.

Relevant Read: 49 Low Investment Business Ideas

MyGate - Launching Startup

MyGate was launched in Bangalore in the second half of 2016. Being a first in the category, it took some time for people to accept the simplicity of the solution. However, after winning a few trials in large gated communities around Bangalore, it quickly started to be adopted around the city. Initially, the company did not do any marketing for its services and relied on word of mouth publicity.

The key strategy has been focusing on the customer and solving their problems. This has led us to develop a number of innovative features, such as Kid Checkout Permission and Automatic Number Plate Recognition. We believe that continuous focus on the customer is all we need to maintain our momentum - Vijay Arisetty

What is MyGate

MyGate is making housing societies more secure and convenient to live in by using innovative technologies and by providing exceptional customer experience. As said by MyGate owner Vijay Arisetty, the two major issues faced by residents of gated societies are-

  1. Unlike 15 years ago, housing societies today have more strangers visiting the houses than guests who are friends or relatives. This is because of the boom in e-commerce in India. This steady stream of unverified visitors could create security concerns.
  2. People want to live in housing societies because they are supposed to be more convenient to live in owing to the many amenities they provide. However, residents don’t always get the full benefit of these amenities.
Mygate app screen

MyGate app is designed to solve these issues through the following services-

  • Visitor management: Ensures seamless entry of Guests.
  • Daily staff management: notifies the resident the moment his staff enters the premises and automatically maintains attendance. This feature also helps the residents find the best-rated help in the community.
  • Child Security: Provide security guards with an easy way to seek the permission of the resident, if his/her children attempt to leave the premises.
  • Delivery Management: MyGate helps the dwellers receive all the packages faster and even if someone is not home.
  • Amenities booking: Lets the society dwellers book amenities such as the clubhouse or the tennis court etc from the app.
  • Multiple Property management: Helps manage multiple properties from a single app.
  • Communications management: Lets the residents make announcements, plan events and discuss community matters, all on the community app.
  • Accounts and Payments: Simplifies accounts and payments for the managing committee and residents.
  • Helpdesk: The residents can write up any issues, be it the broken lift or erratic water supply and also get real-time updates on the issues raised.

Some of the major USPs of MyGate app are-

  • Easy to use - MyGate has an intuitive interface that can be easily understood and used by all.
  • Customer Support – MyGate team trains the guards and addresses the concerns to ensure a great experience for the residents.
  • Minimal Hardware- MyGate is an app based solution which requires no maintenance or expensive hardware.
  • Quick Setup- MyGate onboard the residents and staff and trains the guard within just a week from the very beginning, the product was specifically meant for creating convenience for gated communities and thereby providing security.
Over the years, we have made the application much more sophisticated, creating greater value add - Vijay Arisetty

MyGate has inked partnerships with many e-commerce players to create a system to offer a silent and secure delivery experience for its users. The startup also trains guards to understand the system.

MyGate - Revenue Model

The revenue model of MyGate just like any other SaaS product i.e subscription based. MyGate's monthly subscription fee or pricing depends on the number of houses in society. MyGate costs an apartment about Rs 20 (28 cents) per month which comes to an average of INR 6000- INR 10,000 from every community per month.

According to some sources, MyGate's annual revenue is estimated to be annually $4 million. However exact data regarding MyGate's current revenue is not available.

MyGate - Funding and Investors

MyGate has raised funding worth $67.5 million in three rounds till date from various investors.

Date Stage Amount Investors
January 18,2018 Venture Round Rs 16 Crore Prime Venture Partners
October 15, 2018 Series A Rs 65 Crore Prime Venture Partners
October 17, 2019 Series B $56 Million Tencent, Tiger Global, JS Capital and existing investor Prime Venture Partners

MyGate - Startup Challenges

A major challenge faced was regarding the training of the security guards. Initially, MyGate expected communities to deploy the solution on their own and train the guards just once. This did work for some communities with tech-savvy residents, but not for all. Now, the company ensures that the guards are well trained by providing training at any required time.

We quickly realized that due to huge churn in the security industry, a single training would not work. Therefore, we now have over 200 people ensuring that communities always have a great product experience with well-trained guards.

Relevant Read: Expert Hacks to Grow Your Business

MyGate - Competitors

Some of the top competitors and substitutes of MyGate are Apartment Adda, Apna Complex, NoBroker Hood, Digital Gorkha & Biizlo.

MyGate - Growth

Named as one of India’s most innovative startups, MyGate has been able to carve a niche for itself in the field of security and community management. The startup is operational in 11 cities in India and has amassed over 1.2 million home customers. Its customer base is increasing by 20% each month, it claimed. The service is handling 60,000 requests each minute and clocking over 45 million check-in requests each month.

The major growth milestones achieved by the MyGate are-

  • It is currently present in 11 cities including Bengaluru, Delhi, Mumbai, Kolkata, Chennai and Hyderabad.
  • It is providing services to 2500+ gated communities and over 500,000 homes.

MyGate - Future Plans

MyGate’s goal is to establish itself in the commercial/office space for visitor and staff management and to become synonymous with any gated premise. The startup aims to reach 15 million homes in 40 Indian cities in the next 18 months by Mid-2021.

Author image

About Chayanika Goswami

Chayanika is an MBA in Finance and a trained Digital Marketer. SEO and content writing are her hobbies turned profession. She is a rover. In her free time, she loves traveling and cracking jokes.