Rina Funding, Investors & Competitors

Rina has raised $234M across 2 funding rounds, most recently a $199M undisclosed-stage round in December 2023.

See full Rina profile

Last Rina funding round

$199M

Undisclosed stage · Dec 2023

Rina revenue

$442M

Undisclosed stage · Apr 2014

Key investors in Rina

Rina Overview

About Rina

Rina is a Genoa-headquartered multinational corporation delivering classification, testing, inspection, certification, and engineering consultancy services. With 200 offices in 70 countries, Rina certifies ships, offshore platforms, and industrial plants for clients in maritime, energy, and infrastructure sectors. Founded in 1861 as an Italian naval register, it now oversees 6,000 vessels and provides cyber security audits under EU regulations.


HQ

ItalyBergamo

Website

rina.org

Status

Privately held

Customer focus

B2B

Revenue model

Services

Revenue

$442M (Apr 2014)

Rina Revenue

Rina's latest recorded revenue is $442M, as of its undisclosed-stage round in April 2014.

Rina revenue by funding round

Rina revenue and valuation multiple by funding round
DateRevenue *Stage
Apr 2014$442MUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Rina Funding History

Rina has raised a total of $234M across 2 funding rounds.

Rina's first fundraising round was a $35M undisclosed-stage round in April 2014. The most recent completed round was a $199M undisclosed-stage round in December 2023.

Rina funding rounds

Rina funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2023Undisclosed stageFondo Italiano d'Investimento$199MFondo Italiano d'Investimento SGR entered the shareholder structure of the Genoa-based engineering and certification group RINA in December 2023, after a joint announcement on 4 August 2023 by Registro Italiano Navale, Fondo Italiano and RINA. The plan was an injection of up to EUR 180 million of equity, with Registro Italiano Navale keeping the majority and Fondo Italiano and co-investors it coordinates holding a minority of up to 33%. Management was to hold 2.5%. Fondo Italiano invests through Fondo Italiano Consolidamento e Crescita and its second fund FICC 2, and for the first time brought in a group of co-investors that it coordinated. It was the first investment of FICC 2, which had closed EUR 245 million with cornerstone investors CDP Equity, Fondazione ENPAM, Intesa Sanpaolo and UniCredit. RINA offers engineering consulting and testing, inspection and certification, and had pro forma revenue above EUR 700 million in 2022.
Apr 2014Undisclosed stageVEI Capital; Intesa Sanpaolo$35MRINA S.p.A. is an Italian certification, engineering, and consulting group operating in sectors including marine (shipping classification), energy, business assurance, transport, and infrastructures, with global activities evidenced by growth in central Asia, UAE, Korea, and others. In 2013, it reported consolidated revenues of 294 million euros, up 4% from 2012, and EBITDA of 37.2 million euros, up 6%, driven by strong performance in energy (+13%) and shipping (+6%), with RINA Services managing a class fleet of 4,761 units (33.5 million GT) and an order book of 650 ships (4.8 million GT). D’Appolonia, a subsidiary, achieved 90 million euros turnover. On April 22, 2014, RINA raised $35 million (approximately 34.7 million euros) in a private equity round from Intesa Sanpaolo and VEI Capital to support internationalization, acquisitions, and ambitious development plans amid organic growth. The investment aligned with RINA's strategy to acquire high-value companies and strengthen long-term growth. Post-round, RINA's 2014 annual report showed turnover rising strongly to 333 million euros, supported by four small acquisitions to expand expertise and coverage, staff growth to nearly 3,000 globally, and new initiatives like the RiNEW project for IT and process standardization. Two new shareholders (matching the round investors) provided 100 million euros total for capital and acquisitions, creating a war chest of around 250 million euros. The company continued expanding in marine, energy, and other sectors, with later years showing further revenue growth to 437 million euros in 2017 and beyond.

Who has invested in Rina?

3 investors have backed Rina across its funding rounds, including Intesa Sanpaolo, Fondo Italiano d'Investimento and VEI Capital.


Rina Investors

Investors in Rina by funding rounds participated
InvestorHQRoundsRoleFirst check
VEI CapitalItalyMilan1ParticipantApr 2014

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Rina

Rina has acquired 6 companies to date.

Last acquisition by Rina was on December 19th 2025. Rina acquired Gloval for undisclosed valuation.


Latest Acquisitions by Rina

Gloval
Foreship
Patrick Engineering
Cyber Partners
Description
Gloval is a Madrid-headquartered firm delivering valuation, engineering, and real estate consulting services across Spain. Formed through the integration of established companies, it employs over 1,000 professionals with more than 70 years of collective experience, offering national coverage and international project support for infrastructure and property clients.
Foreship is a Turku-headquartered engineering firm specializing in cruise ship conversions and repairs. It manages LNG retrofits for vessels like AIDAprima in Finland's Meyer Turku shipyard. The company serves Carnival Corporation across Baltic and Asian yards.
Patrick Engineering delivers civil engineering, design, and construction management services from its Chicago headquarters, specializing in transportation infrastructure, utilities, and site development for clients across the Midwest including IDOT projects.
Cyber Partners is an Italy-based consultancy delivering cybersecurity assessments, technology advisory, and compliance services for enterprises. Operating from Milan, it conducts GDPR audits, risk management frameworks, and implementation of tools like firewalls and SIEM systems. Cyber Partners serves sectors including manufacturing and public administration across Europe.
HQ CountrySpainFinlandUnited StatesItaly
HQ City
Madrid
Helsinki
Chicago, IL
Rome
Deal Date19 Dec 202518 Jun 202523 Jan 20238 Oct 2021
Valuationundisclosedundisclosed$50Mundisclosed
EV/Revenue
EV/EBITDA

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Rina Competitors

Rina competitors include listed companies like Palantir, IBM, Accenture and Tata Consultancy Services, and private ones like MB2 Dental Solutions and Foundever.

Public and private companies comparable to Rina
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PalantirUnited StatesUnited StatesPublicly listed$4.5B$1.5B$386B47.6x
IBMUnited StatesUnited StatesPublicly listed$68B$17B$232B4.1x
AccentureUnited StatesUnited StatesPublicly listed$74B$13B$154B2.1x
Tata Consultancy ServicesIndiaIndiaPublicly listed$28B$7.3B$96B3.0x
MB2 Dental SolutionsUnited StatesDallas, TXPrivate-$300M$3.5B-
FoundeverUnited StatesMiami, FLPrivate--$3.2B-

Rina Public Comps

Rina is still privately-owned, but its public comps include Palantir, IBM, Accenture, Tata Consultancy Services, Infosys, HCLTech, NEC, Fujitsu, Cognizant and Capgemini.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Palantir$4.5B$1.5B84.1x47.6x258.7x77.6x
IBM$68B$17B4.3x4.1x17.3x14.5x
Accenture$74B$13B2.1x2.1x12.4x11.0x
Tata Consultancy Services$28B$7.3B3.2x3.0x12.6x11.4x
Infosys$20B$4.8B2.3x2.3x10.0x10.0x
HCLTech$14B$2.7B2.8x2.7x14.4x12.9x
NEC$23B$3.3B1.7x1.6x11.8x10.6x
Fujitsu$22B$3.4B1.5x1.5x9.8x10.2x

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Common questions about Rina

Where is Rina headquartered?Rina is headquartered in Bergamo, Italy.
Is Rina publicly listed?No, Rina is a private, VC-backed company.
How much funding has Rina raised?Rina has raised $234M across 2 funding rounds.
What was Rina's last funding round?Rina's last funding round was a $199M undisclosed-stage round in December 2023.
Who are Rina's investors?Rina's investors include VEI Capital, Intesa Sanpaolo and Fondo Italiano d'Investimento.
What is Rina's revenue?Rina's latest recorded revenue is $442M (April 2014).
Which companies are comparable to Rina?Companies comparable to Rina include Palantir, IBM, Accenture, Tata Consultancy Services, MB2 Dental Solutions and Foundever.
How many companies has Rina acquired?Rina has acquired 6 companies, including Gloval, Foreship, Patrick Engineering, Cyber Partners and Edif Group.
What was the largest acquisition by Rina?The $173M acquisition of Edif Group in May 2016 is the largest acquisition Rina has made to date.

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