Who is Abhishek Kumar? Man who once worked as security guard, now owns business empire worth Rs 1090000000, his company is…
Industrialist Harsh Goenka is known for his witty posts and insightful thoughts on the social media platform. Once, he mentioned the success story of Abhishek Kumar, who left Goldman Sachs to become a security guard for a purpose. At present, he is the co-founder of the security and community management app MyGate.
Who is Abhishek Kumar?
Abhishek Kumar, an IIT Kanpur graduate and former Goldman Sachs executive, put in 14-hour shifts as a security guard—not out of need—but to conduct thorough, first-hand research into the challenges of the security guards employed within gated communities so that he could grasp the complexities of their problems from the ground level. Abhishek’s venture was all about the research, not the salary.
Sharing a post on X, the chairman of RPG Enterprises, Harsh Goenka wrote, “In 2016, IIT grad & ex-Goldman exec Abhishek Kumar became a security guard working 14-hour shifts. That experience of understanding pain points led to his creating MyGate: now in 25,000+ communities, 100M+ check-ins/month.” “Moral: To build for others, first walk in their shoes,” he added.
Who founded MyGate?
In 2016, Abhishek Kumar, Vijay Arisetty, and Shreyans Daga co-founded MyGate, the app-based platform that manages visitor access, security, maintenance, housekeeping, and other daily services in residential communities.
“With the vision of bringing about a system to the functioning of gated communities, Mygate was founded by Vijay Arisetty, Abhishek Kumar, and Shreyans Daga in 2016. As our community app gained ground around the country, our vision expanded to building for the individual and the home- to create living experience technology that enhances every day with security, convenience, and gives you a sense of community,” reads the official website of MyGate. “Mygate is used for about 720,000 requests every minute of every day, by individuals and societies at large,” the statement further reads.
As of today, MyGate serves over 4 million residents across over 25,000 housing societies in India, managing more than 100 million check-ins each month. In 2022, the company raised Rs 100 crore in a funding round co-led by Urban Company and Acko. The company disclosed that revenue was Rs 77 crore in FY23, which jumped to Rs 109 crore in FY24. As per Tracxn, its net loss decreased from Rs 227 crore in FY23 to Rs 39.7 crore in FY24.
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