Leadership Transition Announced at MyGate, Cofounder Abhishek Kumar is CEO
myGate announced major leadership transition within the organization, Abhishek Kumar promoted to CEO, Vijay Arisetty as Chairman, CTO Shreyans Daga will have an expanded role.
Rohit Jindal, a veteran within the company, has been promoted to Chief Business Officer role.
Founded by Vijay Arisetty, Abhishek Kumar, and Shreyans Daga in 2016, MyGate has emerged as the largest community app in India, simplifying urban living for over four million homes.
myGate addresses a gap in the security systems of gated communities that was only widening with the eCommerce boom. The simplicity of the system – and its positive impact on resident, guard and overall community – led to strong word-of-mouth.
Within the next 18 months, the company founded thousands of gated communities across India’s major metros. This helped the company evolve from a security focused app into India’s most comprehensive gated community solution.
The company reported revenue exceeding ₹100 crore for the fiscal year 2023-24, marking a 35% increase from the previous fiscal.
The community app also posted zero burn in the fourth quarter. In a statement, MyGate attributed its success to key revenue drivers, primarily subscriptions from Resident Welfare Associations and brand partnerships.
Reflecting on the financial achievements, Abhishek Kumar said, “myGate is in its strongest financial position ever, with proven revenue streams scaling up and three consecutive months of zero cash burn. We are committed to serving residents of gated communities in the most secure and thoughtful manner, laying a solid foundation for a profitable FY25.”
