When Vijay Arisetty, Abhishek Kumar, and Shreyans Daga started security management startup MyGate in 2016, the trio had found a gap in the security systems of most gated communities.
They realised that on average, at least two to three people visit their homes in a day. And it can be a challenge for one single security manager to check and allow the right people. This led to the birth of MyGate.
The end-to-end community management platform, which uses automation to disrupt the sector, serves 1.6 million homes in 17 cities. Prior to the coronavirus-led lockdown, MyGate was doing close to 90 million visitor validations every month.
The startup has raised $56 million in Series B funding led by Tencent Holdings, along with US-based JS Capital LLC and Tiger Global Management. MyGate now aims to deploy the funds to achieve 10x growth.
It is also looking to serve nearly 15 million homes across 41 Indian cities on its platform and scale to almost 60,000 gated communities by the end of 2020.
The journey, however, began with a clear understanding of what the team was aiming to solve.