Investors include JS Capital LLC, Tiger Global and Prime Venture Partners.
Mygate on track to add over 15 million homes across 40 cities in the next 18 months.
Bengaluru, October 17, 2019: Mygate, India’s leading all-in-one society management and accounting ERP platform, has raised $56 million in Series B funding. The investment comes from US-based JS Capital LLC, Tiger Global Management, existing investor Prime Venture Partners, among others. Beyond enhancing convenience and security in gated premises, Mygate offers robust ERP solutions that streamline billing, automate accounts, manage complaints, and simplify vendor payments all accessible via a unified digital platform. This funding will accelerate Mygate’s mission to transform gated communities by integrating security, accounting, and community management into one scalable and transparent system.
Mygate has experienced a fivefold growth over the past year and is now active in 1.2 million homes across 11 cities in India. This all-in-one community management platform not only enables residents to communicate with neighbours, manage visitors (guests, deliveries, cabs, etc.), and maintain attendance records and salary payments for daily help, but also integrates a robust ERP system for society accounting. Mygate streamlines maintenance fee collections, automates invoicing with GST compliance, manages vendor payments, handles complaints through a responsive helpdesk, and simplifies amenity bookings all accessible via a single unified digital platform. Processing over 60,000 requests per minute and facilitating more than 45 million check-in requests every month, Mygate delivers a comprehensive and scalable solution for modern gated communities.
Since its launch in 2016, Mygate has grown into a comprehensive ERP platform for housing societies, going far beyond security to cover every aspect of community management. From automated accounting, billing, and GST/TDS compliance to helpdesk, audits, vendor management, facility bookings, and resident engagement, Mygate unifies operations on a single platform. It empowers residents, committees, builders, and facility teams with transparency, efficiency, and scalability. With expertise in digital transformation and continuous product innovation, Mygate is enabling smarter and more self-sufficient societies across India.
Mygate is a comprehensive ERP platform for gated communities that simplifies and automates society operations. It digitizes key workflows such as accounting, billing, payments, and helpdesk while also streamlining visitor management, staff tracking, child safety, and clubhouse access. With advanced features like e-intercom, vehicle management, touchless resident identification, and powerful admin dashboards, Mygate empowers RWAs to achieve transparency, efficiency, and smarter community living.
Mygate’s success and rapid adoption can be attributed to the growing demand for a comprehensive and easy to use digital platform that goes beyond security to streamline every aspect of community living. With over 45 million people residing in gated communities, a number that continues to rise at 13 percent year on year, the need for a solution that simplifies operations, enables seamless interactions and delivers convenience has never been greater. From managing visitors, staff and vehicles to enabling digital payments, accounting and community communication, Mygate is emerging as the all in one ERP for residential communities, ensuring that every stakeholder including residents, RWAs and service providers experiences efficiency and transparency.
With this fresh funding, Mygate plans to strengthen its leadership position by expanding its platform into a comprehensive ERP for gated communities. The focus is on creating innovative solutions that remove friction from every interaction between residents and external stakeholders while digitizing and automating society operations. Beyond delivering convenience and security to residents, Mygate is also enabling greater efficiency for RWAs, management committees, security personnel, local service providers and eCommerce companies, ensuring a connected and well-managed community ecosystem.
The startup has over 700 employees spread across all of India’s metros. To power its growth, the company is planning to triple its workforce over the next two quarters. Mygate has earlier raised $11.5M over two rounds of funding. In May 2019, the company also announced partnerships with several major eCommerce brands, including Swiggy, Zomato, Grofers and Dunzo, to make possible a silent and secure delivery experience for its users.
Salil Seshadri, Chief Investment Officer, JS Capital LLC
Mygate is a company with the rare ability to innovate for all of urban India on a single platform. We believe that their deep product focus and technological prowess will enable them to build solutions that bring positive gains to the entire ecosystem.
Sanjay Swamy, Managing Partner, Prime Venture Partners
Right from the first time I experienced Mygate as a customer just two years ago, it’s been great to see a fledgling startup execute consistently and holistically, and grow into a category-creating market-leader. We’re delighted by the progress of Mygate and welcome these marquee investors, as the company prepares for the next wave of growth.
Vijay Arisetty, CEO & Co-founder, Mygate
We started Mygate to solve the real challenges of security and convenience faced by households every day. Over time, the platform has grown into a comprehensive solution that simplifies community living by integrating accounting, payments, communication, security, and overall society management on a single platform. We are deeply thankful to our customers and investors who trusted our vision, shared valuable feedback and supported us throughout this journey. Our mission of simplifying urban living is only at the beginning, and we are excited to welcome marquee investors and business partners such as Tencent, Tiger and JSoros as we move into the next phase of growth.
About Mygate:
Founded in 2016, Mygate is a technology-first platform transforming community living by unifying society management, payments, amenities, communication, and helpdesk into one comprehensive solution. Trusted by over a million homes across 11+ cities, Mygate empowers residents and RWAs to manage daily operations seamlessly. Security features complement the platform, ensuring safe and convenient living. The company was co-founded by Vijay Arisetty, a decorated ex-IAF pilot and Shaurya Chakra awardee, Abhishek K, former VP at Goldman Sachs, and Shreyans Daga, former project head at Oracle and Digit.
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