The new funding will support PTO’s next phase of growth and promote PTO’s expansion into the MENA region.
The Professional Triathletes Organisation (PTO) has announced the completion of a Series C funding round, led by Saudi Arabia-backed sports fund SURJ Sports Investment and supported by Cordillera, Verance Capital and Sir Michael Moritz. The deal is reportedly valued at around $40 million, according to Reuters, based on sources close to the deal.
The new funding is meant to support PTO’s continued international growth, innovation in race formats and long-term athlete and fan engagement, said the governing body. It will also help accelerate the PTO’s expansion into the MENA region.
Triathlon World Tour ends with World Championship in Qatar
SURJ is a unit of Saudi Arabia’s Public Investment Fund (PIF). Sir Michael Moritz led the Series A round and remained a key supporter through Series B and now Series C. Verance Capital, led by sports industry veteran Lyle Ayes, which has also joined the investment round, has invested across the sports and entertainment ecosystem since its launch in 2021.
The announcement of the completion of a Series C funding round follows a $10 million investment from Cordillera in March 2025 and adds to previous rounds led by Divergent Investments, Warner Bros. Discovery and venture fund Eckuity.
In 2024, PTO launched the T100 Triathlon World Tour, an endurance series featuring the world’s top 20 male and female triathletes, competing alongside amateur athletes in major global cities. In 2025, the T100 Tour has expanded from seven to nine races. On Dec. 12-13, 2025, Doha, Qatar will host the first Qatar T100 Triathlon World Championship Final as part of a new five-year partnership with Visit Qatar.
