Is the security up to the mark? The question that automatically pops up in everybody’s minds living in the residential gated community. There are many security measures that have been taken up by the gated community management to ensure a hassle-free and secure presence, but are not able to meet up the expectations of those living there. Here enter the technology driven digital solution, MyGate, that has made it easy to manage those complexities of residential gated communities. Let’s get into some insights of MyGate Funding, Valuation, and Shareholders breakdown.
Will explore how this small startup turned into a major go-to way for the gated communities for their security, convenience, hassle-free experience, and innovation. Another one in the list of property technology (proptech), providing game-changing solutions for convenient and secure living in gated communities.
MyGate Company Overview
The app that is specifically designed for the security in this urban surroundings. The MyGate app operates to bridge the gap between technology and real estate security concerts. MyGate is an Indian pioneer based app, in the proptech industry (property technology) that specializes in providing the best, secure, and effective living in gated communities.
The company offers a mobile based app and also a cloud based platform, that works to simplify and enhance different aspects of community living. This platform allows residents, guards, and the community to manage their visitors, deliveries, security check, along with other services, instead of seeing age-old tradition of keeping the records.
|Name of the Company||MyGate|
|Founders||Vijay Arisetty, Shreyans Daga, Abhishek Kumar.|
|Parent company||Vivish Technologies|
|Headquartered||Bengaluru, Karnataka, India|
|Operating space||B2B, SaaS space|
|Industry serves in||Real Estate, Construction Tech|
|Valuation (2022)||$206 million|
|Funding (2022)||$12.2 million|
|Revenue (2023)||$711 million|
MyGate acts as a bridge that combines technology with the gated communities system or the real estate security concerns, by offering them a suite of benefits and solutions to elevate the residential living.
The app platform has allowed residents to manage their visitors, exits, services, maintenance requests, deliveries, security concerns, etc. Providing the way out of the traditional methods of security concerns and other residential gate community services.
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Let’s begin with the discussion of MyGate’s impressive fundings, valuation, and diversified lot of shareholders!
MyGate Funding Road
Being at the forefront of the proptech industry, MyGate has acquired an impressive tale of fundings since its inception.
These funding rounds have not only helped the company to accelerate its growth but also shaped the security sphere and convenience in residential living in gated premises.
|YEAR||SERIES ROUND & INVESTORS||MONEY GROWTH|
|January 1, 2016||Seed round – investors|
|October 16, 2018||Series A – invested by |
Prime Venture Partners
|October 17, 2019||Series B – investors (undisclosed)||56 million|
|November 23, 2022||Series B – invested by Acko, |
In total, MyGate has raised $80 million in its funding rounds. Marked its latest funding round on November 23, 2022. In the latest funding round of MyGate, 6 investors participated, Acko and Urban Company are two of them. Along with it on December 10, 2021, MyGate has acquired MyCommunity Gennie.
As the funding journey of MyGate will continue in future, it’ll lead to more success and growth of the company. Seeking to reshape and unlock the doors of secure and smart living.
MyGate Valuation Sights
As seen above, MyGate has raised a good amount in its funding rounds till now, unlocking the doors of success for the company. As of latest 2022, MyGate has raised a total of $206 million in valuation post its funding rounds.
- The app is reportedly used in more than in 27 major cities.
- Used in over 3.5 million homes.
- Present and used in 25,000+ societies.
- MyGate app has become no. 1 community app, that is used to ensure the security and convenient living in gate premises society.
- This gated security app offers facilities that simplify daily activities, enhancing security measures, through its models like ERP, account management, record keeping, etc.
- An app that is useful for everyone including residents, security guards, delivery persons, vendors, management committee, etc.
- Offers other services too like, community ERP, home services, and apartment security management.
MyGate Shareholders Lot
Apart from having good funding sights, a recognizable valuation, MyGate does have a good shareholders lot, which is impressive to look at. Behind its offering solutions for the gated premises living, MyGate poses a diverse group of shareholders who invested in making the company a recognizable one in the technology market.
|SHAREHOLDERS NAME||PERCENTAGE OF SHARES OWNED|
(Employee Stock Ownership Program)
|Other people holding||0.41%|
From the above table,
- We can clearly say that Funds hold the majority of shares in the company, with a net worth of Rs.604 crore.
- While the founders of the company hold 24.94% shares, the second on the list, with a net worth of Rs.415 crore.
- Following it the Enterprise holds its shares at a net worth of Rs.451 crore, ESOP holds its shares at a net worth of Rs.152 crore, angel at a net worth of Rs.34.1 crore, and other people holding shares at Rs.7.1 crore.
MyGate journey towards its growth and success has been underpinned by various factors like its strategic funding rounds, each representing a step forward in growth. The valuation it has raised with its funding rounds, represents its promise to provide seamless security and convenient living to many of us.
The shareholders who believe in the company’s promise and vision to provide utmost facilities through its app and invested in its potential promise.
MyGate journey will continuously evolve with time, by having new funding rounds, investors, that’ll lead to company’ growth and success and make it stand out in the market with its various features and facilities.