Parakey
Parakey AB is a Nordic proptech company that offers a cloud- and mobile-based access control platform where the smartphone replaces physical keys, serving commercial real estate owners, coworking operators, multi-office enterprises, and parking operators across Sweden, Norway, and Denmark.
- Company typePrivate
- Founded2014
- HeadquartersGöteborg, Sweden
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Parakey does
Parakey AB is a Gothenburg-based proptech company founded in 2014 that operates a cloud- and mobile-based access control platform in which the smartphone serves as the key to locked spaces. The platform is built on three layers: Parakey Cloud Service (web-based administration), the Parakey mobile app (iOS/Android), and a proprietary hardware portfolio consisting of Parakey Slim (described as the world's smallest access control system), Door Handle, Cylinder, Control Unit (Styrbox), and the PDL professional digital lock (developed in partnership with dormakaba). Hardware devices operate fully offline and communicate via encrypted Bluetooth (AES 128-bit) with the smartphone app, which syncs logs and key changes back to the cloud hosted on AWS within Europe.
Parakey generates revenue through two streams: one-time hardware sales (6,490-8,990 SEK per unit with volume discounts) and recurring annual subscriptions to the cloud service. The subscription is structured in two tiers — Core from 399 SEK/month and Plus from 599 SEK/month (Plus adds biometric authentication, mandatory 2FA for admins, account-sharing detection, and key-sharing by app users) — plus an optional Integration add-on from 250 SEK/month that unlocks Zapier (7,000+ services), the Nexudus coworking BMS integration, SDK-based third-party unlocking, and a catalog of partner integrations including Mobility46, Avy, MATCHi, and Apcoa Parking.
The company serves commercial real estate owners, coworking operators (notably through the Nexudus integration), multi-office enterprises, parking operators, and residential property managers, primarily in the Nordic region (Sweden, Norway, Denmark). It self-describes as the Nordic region's largest supplier of mobile access for businesses, with disclosed traction of over 1,000 customers and 700,000 unique users generating 70 million total unlock events. Distribution is hybrid: direct e-commerce (order.parakey.co, abonnemang.parakey.co), direct enterprise sales, a reseller/retailer program, and a Zapier marketplace listing. Leadership is founder-led, with Jonas Arvidsson as CEO and co-founder and Erik Barrefors as CTO and co-founder; total disclosed funding from Chalmers Ventures AB across four rounds (2016-2025) is approximately $2.54M, suggesting a capital-efficient, bootstrapped-style operating model with a current headcount of 1-10 employees.
Parakey firmographics
Firmographics- Name
- Parakey
- Legal name
- Parakey AB
- Website
- https://parakey.co
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Parakey AB is a Nordic proptech company that offers a cloud- and mobile-based access control platform where the smartphone replaces physical keys, serving commercial real estate owners, coworking operators, multi-office enterprises, and parking operators across Sweden, Norway, and Denmark.
- Ownership category
- akta.pro rank
Parakey industry classification
Industry- Product category
- Mobile Access Control / Proptech
- NAICS
- Security Systems Services (except Locksmiths) (561621)
- akta.pro primary industry
- Smart Lock Software Platforms & Mobile Apps (Access Control SaaS) (HSAHAEAG)
- akta.pro secondary industry
- Remote Unlock & Visitor Management (Mobile Credentials/Packages) (HSAHAIAL)
Keywords
Where Parakey is headquartered
LocationHeadquarters
- HQ city
- Göteborg
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
Parakey business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales, Operations
Revenue model
- Hardware Sales: Parakey sells physical hardware devices (Slim, Door Handle, Cylinder, Control Unit, PDL) as one-time purchases. Volume discounts are available for 5-pack, 10-pack, and 100-pack orders. Hardware prices range from 6,490 SEK to 8,990 SEK per unit depending on product.
- Parakey Cloud Service Subscription: Annual subscription for cloud hosting, remote administration, scheduling, updates, hosting, backup, and security. Two tiers: Core (from 399 SEK/month) and Plus (from 599 SEK/month). Annual billing in advance.
- Integration Add-on: Monthly add-on for automation via Zapier, Nexudus BMS integration, SDK third-party app unlocking, and Parakey-developed integrations. Priced from 250 SEK/month, including 25 users; additional users at 1 SEK/user/month.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Core plan from 399 SEK/month — all functionality needed to increase security and simplify access management |
| Subscription | Annual | Plus plan from 599 SEK/month — advanced administration and extra layers of security |
| Subscription | Annual | Integration add-on from 250 SEK/month — automation via ready-made integrations |
| Unit Pricing | Multi-year contract | Parakey Slim — 6,590 SEK per unit |
| Unit Pricing | Multi-year contract | Parakey Door Handle — 6,990 SEK per unit |
| Unit Pricing | Multi-year contract | Parakey Cylinder — 6,990 SEK per unit |
| Unit Pricing | Multi-year contract | Parakey Control Unit — 8,990 SEK per unit |
| Unit Pricing | Multi-year contract | Parakey PDL — 6,990 SEK per unit |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels8 records
Parakey product offering
Product offeringCore offering
Parakey provides a cloud and mobile-based access control system that replaces physical keys, tags, cards, and codes with a smartphone. The offering combines the Parakey Cloud Service (web-based remote administration), the Parakey App (iOS/Android mobile key), and proprietary hardware devices (Slim, Door Handle, Cylinder, Control Unit, PDL) that unlock via encrypted Bluetooth while operating fully offline. Targeted at commercial real estate owners, property managers, coworking operators, and enterprises across the Nordic region.
Product overview
Parakey is a cloud and mobile-based access control platform offering a complete ecosystem for digital key management. The core offering consists of Parakey Cloud Service (cloud platform), Parakey App (mobile key), and Parakey Web Portal (administration), complemented by hardware devices including Parakey Slim (world's smallest access control system), Parakey Door Handle, Parakey Cylinder, Parakey Control Unit (Styrbox), and Parakey PDL (professional digital lock). The platform operates on an offline-first principle: hardware is completely offline and unlocks via encrypted Bluetooth, while key management is done online through the cloud. Subscription tiers include Core (from 399 SEK/month) and Plus (from 599 SEK/month), with an optional Integration add-on (from 250 SEK/month) for automation and third-party connectivity.
Differentiator
Problem solved
Functional benefit
Products and services
- Parakey Slim The world's smallest access control system with a 30-meter line-of-sight Bluetooth range. Can enrich existing access systems or serve as a standalone access control solution for commercial real estate, coworking, and enterprise customers. Priced from 6,490 SEK per unit with volume discounts.
- Parakey Door Handle
Quantifiable outcome
- Over 1,000 customers using Parakey across the Nordic region
- +5 more outcomes
Companies that use Parakey
Customer profileNamed customers12 records
Segments5 records
Ideal customer profiles4 records
Parakey technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature13 records
Parakey partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and strategic.
- Nexudus (SDK Partnership)coreNexudus is first out in an invite-only launch of Parakey's SDK (Software Development Kit), enabling unlocking directly from Nexudus Passport or customers' white-label apps without needing the Parakey app. Flexiwork (Alecta Fastigheter's coworking concept) is already live with this SDK integration.
- Mobility46 (Park46)coreIntegration between Parakey and Park46/Mobility46 automates the assignment of mobile keys for parking spaces. When a parking agreement is created in Park46, a digital key is automatically sent from Parakey. Users receive an email with instructions to unlock parking areas via the Parakey app — eliminating physical keys or tags for parking.
- NexuduscoreParakey has a built-in integration with Nexudus, a building management system focused on coworking and flexible workspaces. The integration automates the assignment of mobile keys based on Nexudus bookings — members booking conference rooms, day passes, or renting private offices automatically receive mobile access keys. The integration is available through the 'Integration' add-on in Parakey's Core and Plus plans.
- ZapiercoreParakey connects with over 7,000 services via Zapier integration hub, enabling automated access management workflows for customers who do not have direct integrations. Available through the Integration add-on (from 250 SEK/month).
- dormakabastrategicParakey partners with dormakaba as a lock partner for the Parakey PDL (Professional Digital Lock). The PDL's electro-mechanical lock housing is developed with dormakaba, with improvements including better handling of doors with high sealing pressure, smoother handle experience, and mounting options for more door environments.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
Parakey competitors and assessment
Company assessmentDirect peers
- iLOQ: Finnish digital and mobile access control company selling electronic locks, cylinders, and cloud-based key management to Nordic and European property owners. Most directly comparable peer given shared Nordic origin, similar digital-first credential model, and overlap in property manager and utility customer base.
- Nuki Home Solutions: Austrian smart lock company offering smartphone-based access for residential and small commercial customers across Europe. Comparable as a European mobile-first access control player targeting similar retrofit and multi-tenant use cases, though more SMB/residential-skewed than Parakey.
- SALTO Systems: Spanish electronic lock manufacturer with SALTO KS / Space cloud-based mobile access platform serving coworking, hospitality, and commercial real estate. Closely comparable on cloud-first mobile credentials, vertical SaaS positioning, and integration ecosystem.
- Brivo: US-based cloud-native access control platform offering mobile credentials, integrated video, and a SaaS model to commercial real estate and multifamily. Comparable on subscription-based cloud access, mobile-first credentials, and property-manager ICP.
- Kisi: Cloud-based physical access control company offering mobile credentials and remote management to commercial offices, coworking, and enterprises. Directly comparable SaaS-first access model and similar SMB/enterprise customer overlap.
- Latch: Smart access and building software company (now part of Door.com) serving multifamily and commercial real estate with mobile credentials and integrated software. Comparable on mobile-first access for property managers and recurring SaaS revenue model.
- RemoteLock: Cloud-based access control platform supporting smart locks and mobile credentials for vacation rental, commercial, and multifamily customers. Comparable on cloud-managed mobile access, integration marketplace approach, and multi-vertical SaaS positioning.
Broad incumbents
- ASSA ABLOY: Global lock and access giant (parent of HID, Aperio, CLIQ) offering mobile credentials across commercial real estate, hospitality, and enterprise. Comparable as the dominant incumbent whose mobile access portfolio competes head-to-head with Parakey in larger Nordic and European deployments.
- dormakaba: Global access solutions provider offering mobile credentials (exos), electronic locks, and enterprise access management. Comparable as both a Parakey partner (PDL hardware) and a broad incumbent whose mobile access portfolio overlaps in commercial real estate and coworking segments.
Emerging players
- igloohome: Singapore-based smart lock and access management company serving short-term rental, residential, and small commercial markets with mobile credentials. Comparable on smartphone-as-key model, though narrower in commercial real estate and focused on Asia-Pacific.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Parakey social profiles
Digital presenceParakey compliance and trust
Trust signalCompliance2 records
Parakey financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parakey leadership team
Management profileNumber of profiles
Profiles8 records
Parakey funding detail
Funding detailFunding overview
Funding rounds4 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parakey M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parakey
What does Parakey do?
Parakey provides a cloud and mobile-based access control system that replaces physical keys, tags, cards, and codes with a smartphone. The offering combines the Parakey Cloud Service (web-based remote administration), the Parakey App (iOS/Android mobile key), and proprietary hardware devices (Slim, Door Handle, Cylinder, Control Unit, PDL) that unlock via encrypted Bluetooth while operating fully offline. Targeted at commercial real estate owners, property managers, coworking operators, and enterprises across the Nordic region.
Is Parakey a public or private company?
Parakey is a private company. It is classified as venture growth investor backed and is currently operating.
When was Parakey founded?
Parakey was founded in 2014. It employs 1 to 10 people.
Where is Parakey based?
Parakey is headquartered in Göteborg, Sweden, in the Europe region.
How does Parakey make money?
Three revenue lines are on record. Hardware Sales are the primary driver. The others are parakey Cloud Service Subscription and integration Add-on.
Who are Parakey's main competitors?
Direct peers on record are iLOQ, Nuki Home Solutions, SALTO Systems, Brivo, Kisi, Latch and RemoteLock. Broad incumbents are ASSA ABLOY and dormakaba. igloohome is listed as an emerging player.
Does Parakey have an API?
Yes. Parakey offers an API that enables integration with other services for automated access management, user management, key management, and reading access logs. Additionally, an SDK (Software Development Kit) allows unlocking Parakey devices directly from third-party apps without requiring the Parakey app. Developer documentation is at help.parakey.co/sv/articles/201-integrationsguide-for-api-och-sdk.
What industry is Parakey in?
Parakey's product category is Mobile Access Control / Proptech. Its primary akta.pro industry code is HSAHAEAG, Smart Lock Software Platforms & Mobile Apps (Access Control SaaS), with a secondary code of HSAHAIAL, Remote Unlock & Visitor Management (Mobile Credentials/Packages). Its NAICS code is 561621.