Secure Gate, MyGate now wants to monetize the community

0










When visitor and security management startup NoBrokerHood hit the market in 2019, it did a curious thing. After a short period of Resident Welfare Association (RWA) billings Rs10 ($0.13) per apartment per month, she made the decision to offer her services free of charge. Well, free for a year for new users but completely free for companies using the services of old rival MyGate.

NoBrokerHood and MyGate are mobile-based security and community management solutions for gated communities. Residents can authorize or deny visitors (guests, delivery agents, taxis, housekeeper) through an application, and the decision is reflected on a mobile device with company security officers. At the time of NoBrokerHood’s launch, MyGate, founded in 2016, offered its services on a subscription basis. The company charges RWA 5,000 rupees ($65.5) per month for the mobile device issued to security guards.

The arrival of NoBrokerHood left MyGate scrambling – the former expanded to “over 12,000 companies in no time”, according to a former NoBrokerHood employee. MyGate followed suit with a

“free for life” plan


“free for life” package

NNA News
MyGate launches free for life plan to help housing companies cope with post-lockdown realities
Read more


in May 2020, moving to a freemium model – a free version with ads or a paid version without. That was then. Almost two years later, the startup is almost unrecognizable on its own.

MyGate offers a multitude of security management services today, but it has also made inroads by offering several community-specific services. Such as Enterprise Resource Planning (ERP) solutions for RWAs to help with accounting, invoicing, expense tracking; a community engagement platform (CEP) called MyGate Club for major brands to engage with residents through curated experiences; community

omni-commerce


omni-commerce

Omni-commerce
Omnicommerce is an integrated “all-channel” approach to retail that aims to deliver consistent, seamless and personalized experiences that result in frictionless and secure payments.


with MyGate Exclusives, a members-only platform for exclusive offers.

Towards the end of 2021, it acquired genius of my community, a platform that provides an adaptive discount model for residents to congregate and buy in groups from over 150 vendors in Bengaluru. It also launched property search marketplace MyGate Homes, in addition to partnering with real estate listings company Housing.com to expand the reach of its listings.

The pandemic certainly played a big role in turning MyGate into this many-headed hydra. The company is now present in over 25,000 housing companies in over 27 Indian cities. But the pandemic has only opened doors. MyGate’s decision to expand stems from difficulties in getting customers to pay for its model.

Share.

Comments are closed.