Bluestone PIM: global business, local company

Can you build a global business from a small town in Europe? Just ask Bluestone PIM – the Product Information Management (PIM) SaaS platform designers based in Tønsberg, a small Norwegian town south of Oslo.

Unless your business specifically needs one, you might not know what a PIM is. Businesses selling products online or across multiple stores need a way to organise and manage product information efficiently. A PIM provides a centralised platform to store, update, and distribute accurate product details across websites, marketplaces, and retailers. This is particularly important for companies selling numerous products across multiple markets, languages, and sales channels.

PIM & THE MODERN WORLD

“Smartphones changed the game,” says Einar Augedal, CEO of Bluestone PIM. “Companies needed to sell through more channels, which made PIM platforms an increasingly attractive area for investment. Over time, e-commerce technology has evolved, enabling the development of faster, composable platforms built around best-of-breed solutions. As a result, larger retailers are increasingly re-platforming to stay competitive.”

Bluestone PIM operates in a market where PIM systems are now more relevant than ever, particularly with the integration of AI. “AI is a perfect match for PIM systems,” says Jon Anders, founder and chair of Bluestone PIM. “About 70% of PIM content consists of text, with the remainder being images. AI can enrich both types of content, creating huge opportunities.”

Beyond efficiency, PIM systems also support sustainable business practices. They help companies significantly reduce product waste, manage sustainability credentials, and comply with regulations such as the EU’s Corporate Sustainability Reporting Directive (CSRD) by centralising the required data. “If you can help consumers make the right purchase decision, the likelihood of returns decreases. With our products, we’ve observed a 30% reduction in returns, saving both money and the environment,” Jon Anders adds.

THE ROAD TO GROWTH

Recognising their strong market fit, demonstrated by securing major international brands, Bluestone PIM sought financing to expand internationally. They secured an EU-guaranteed loan from DNB Bank, backed by the EIF. “In the early stages, we financed Bluestone PIM using our own funds, along with official financing instruments available in Norway,” explains Jon Anders. “For our international expansion, the EIF-secured loan with DNB has been particularly valuable. This has already significantly benefited us, contributing to an 87% growth in contracted subscriptions in 2024.”

CORPORATE USE AND SUCCESS

This funding—combined with hard work and a passion for software—enabled Bluestone PIM to transform from a local company into a global enterprise. Today, the company operates in 70 markets, serving major brands like H&M, Sainsbury’s, and Intersport.

Reflecting on the journey, Einar admits they could have chosen an easier path. “We could have invested our money in real estate or something similar, but that wouldn’t have satisfied us. The truth is, developing software and creating something from the ground up is incredibly motivating.”

Location: Tønsberg, Norway 
Financial Intermediary: DNB
SME: Bluestone PIM
Sector: ICT
Number of employees: 100
Financing purpose: commercialisation, expansion
EU financing: InvestEU