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- Rina
Rina Funding, Investors & Competitors
Rina has raised $234M across 2 funding rounds, most recently a $199M undisclosed-stage round in December 2023.
Last Rina funding round
$199M
Undisclosed stage · Dec 2023
Rina revenue
$442M
Undisclosed stage · Apr 2014
Key investors in Rina
Intesa Sanpaolo
Fondo Italiano d'Investimento
VEI Capital
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
Website
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
| Date | Revenue * | Stage |
|---|---|---|
| Apr 2014 | $442M | Undisclosed 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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Dec 2023 | Undisclosed stage | Fondo Italiano d'Investimento | $199M | Fondo 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 2014 | Undisclosed stage | VEI Capital; Intesa Sanpaolo | $35M | RINA 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Apr 2014 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions 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
| 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 Country | |||||
| HQ City | Madrid | Helsinki | Chicago, IL | Rome | |
| Deal Date | 19 Dec 2025 | 18 Jun 2025 | 23 Jan 2023 | 8 Oct 2021 | |
| Valuation | undisclosed | undisclosed | $50M | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Rina acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Rina Competitors
Rina competitors include listed companies like Palantir, IBM, Accenture and Tata Consultancy Services, and private ones like MB2 Dental Solutions and Foundever.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $4.5B | $1.5B | $386B | 47.6x | ||
| Publicly listed | $68B | $17B | $232B | 4.1x | ||
| Publicly listed | $74B | $13B | $154B | 2.1x | ||
| Publicly listed | $28B | $7.3B | $96B | 3.0x | ||
| Private | - | $300M | $3.5B | - | ||
| Private | - | - | $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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.5B | $1.5B | 84.1x | 47.6x | 258.7x | 77.6x | |||
| $68B | $17B | 4.3x | 4.1x | 17.3x | 14.5x | |||
| $74B | $13B | 2.1x | 2.1x | 12.4x | 11.0x | |||
| $28B | $7.3B | 3.2x | 3.0x | 12.6x | 11.4x | |||
| $20B | $4.8B | 2.3x | 2.3x | 10.0x | 10.0x | |||
| $14B | $2.7B | 2.8x | 2.7x | 14.4x | 12.9x | |||
| $23B | $3.3B | 1.7x | 1.6x | 11.8x | 10.6x | |||
| $22B | $3.4B | 1.5x | 1.5x | 9.8x | 10.2x | |||
This data is available for Pro users. Sign up to see all Rina competitors and their valuation data. Start Free Trial | ||||||||
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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