MyGate elevates co-founder Abhishek Kumar as CEO

Community management app MyGate has announced senior management changes as it elevated co-founder Abhishek Kumar, who was previously the chief operating officer, to the position of chief executive. 

Meanwhile, co-founder Vijay Arisetty, who previously served as the chief executive, has now taken the role of chairman of the board. According to the company, Arisetty will guide the team on the firm's strategic direction and continue to mentor the leadership team.

Co-founder and chief technology officer Shreyans Daga will now have an expanded role overseeing product, technology, and new business initiatives.

Founded in 2016 by Kumar, Arisetty and Daga, the company had raised Rs 100 crore ($13 million) in a funding round co-led by Urban Company and Acko in 2022. Entrackr exclusively reported the development. Last month, the firm announced employees stock buyback program for more than 50 employees. The buyback came on the back of improved financial results for the Bengaluru-based company in the last and current fiscal year.

Additionally, Rohit Jindal, who has been with the company since 2017, has been elevated to the role of chief business officer. 

MyGate recently claimed that its revenue crossed Rs 100 crore in FY23, a 35% increase from the previous fiscal. The company’s investors include Tencent, Tiger Global, and Xto10X, among others.