MyGate Turns EBITDA Positive in FY25, Caps Off Multi-Year Turnaround with Sustained Growth

MyGate, India’s leading community and security management platform, has officially turned EBITDA positive in FY25, capping off a remarkable multi-year financial turnaround. The company is also projecting a near doubling of revenue this fiscal year, backed by aggressive monetization, new product launches, and deeper penetration into Indian housing societies.

Over the past four years, MyGate’s EBITDA margins have shown a dramatic shift:

• FY22: -300%
• FY23: -100%
• FY24: -35%
• FY25: +0.3% (estimated)

This marks the first EBITDA-positive year for the company, once viewed as high-burning, and a validation of its long-term business strategy.

Revenue Momentum & Cost Optimization

In FY24, MyGate clocked INR 109 crore in revenue, a 41% YoY growth over INR 77 crore in FY23. Losses dropped by 82% in the same period, and the company achieved zero cash burn in Q4 FY24, signaling operational efficiency at scale.

Key contributors to this turnaround:

• Expansion into advertising and brand monetization, expected to generate over INR 160 crore in FY25
• Entry into consumer tech, with products like smart door locks for gated communities
• Headcount efficiency, with 624 employees as of February 2025 (19% YoY growth), without bloating operations

Founder Commentary

“MyGate’s EBITDA journey reminds me of a quote: ‘You can forget me till the time you cannot,’” said Abhishek Kumar, Co-founder and CEO.

MyGate has grown 13x in three years from INR 8 crore in FY21 to INR 109 crore in FY24. FY25 is already tracking toward INR 160 crore in revenue with full-year PAT positivity.

Investor Backing & Market Position

Backed by marquee investors including Tiger Global, Tencent, Prime Venture Partners, ACKO, and Urban Company, MyGate has raised $83.3 million across eight rounds. Its most recent post-money valuation stands at $203 million (as of April 2023).

The company ranks #1 among 600+ players in the community tech space, outpacing competitors such as NoBrokerHood, ADDA, and ApnaComplex.

About MyGate

Founded in 2016 and operated by Vivish Technologies Pvt. Ltd., MyGate is India’s top platform for gated community and apartment management. With a presence in over 25,000 housing societies, it provides solutions for security, payments, visitor tracking, society governance, and now, smart device integration.