Latest news with #PTO
South Wales Argus
11 hours ago
- Business
- South Wales Argus
Professional Triathlon Organisation announces Series C funding boost
The successful completion of a Series C funding round, led by SURJ Sports Investment and supported by Cordillera, Verance Capital and Sir Michael Moritz, will support the PTO's continued growth in international markets as well as building long-term athlete and fan engagement. PTO CEO Sam Renouf welcomed the news, with the hopes that further funding can also help propel their T100 Triathlon World Tour to greater heights. 'We're delighted to welcome SURJ and Verance Capital to the PTO investor family," he said. "This is a major milestone not only for us as an organisation, but for the broader vision of triathlon's future. "Our goal has always been to reimagine the sport for modern audiences and open up participation to athletes of all levels. "With new partners like SURJ and Verance, we're better equipped than ever to scale our ambitions globally. "The momentum from our record-breaking T100 Singapore event is just the beginning of what we hope to achieve in 2025 and beyond.' The Series C investment comes at a time of growth for the PTO. In 2024, the organisation launched the T100 Tour and the event has rapidly expanded in the past 18 months. With the wellbeing of professional athletes at its heart and widespread fan participation events, the T100 has attracted thousands of eyes to the endurance sport in less than two years and a new round of funding will be viewed as a critical opportunity to only further enhance it's position amongst elite sport. The next T100 Triathlon World Tour race takes place in London on 9-10 August. Visit
Free Malaysia Today
16 hours ago
- Business
- Free Malaysia Today
Triathlon-PTO announces investment by Saudi Arabia-backed sports fund
The Professional Triathletes Organisation and World Triathlon jointly launched the 'T100' race series last year. (PTO pic) LONDON : The Professional Triathletes Organisation (PTO), a governing body which organises professional triathlons around the world, said today that it had secured investment from Saudi Arabia-backed sports fund SURJ. Sources close to the deal valued it at around US$40 million. 'The funding will support the PTO's continued international growth, innovation in race formats, and long-term athlete and fan engagement,' the PTO said in a statement. 'It will also help accelerate the PTO's expansion into the MENA region, with Saudi Arabia a likely future host market for its flagship T100 Triathlon World Tour. 'Today's announcement follows a US$10 million investment from Cordillera Investment Partners in March 2025 and builds on previous rounds led by Divergent Investments, Warner Bros Discovery, and health-focused venture fund Eckuity,' it said. The PTO and governing body World Triathlon jointly launched the 'T100' race series last year, which features races comprising a 2km swim, 80km bike and 18km run. The series is made up of eight races and a final, which will take place in Qatar later this year. 'The PTO is redefining endurance sport for modern audiences – blending elite racing with inclusive, mass participation formats, global storytelling and community engagement,' SURJ CEO Danny Townsend said in a statement. 'We're proud to support this next phase of growth and to explore how the model can inspire more people across the region to get active,' he said. SURJ Sports Investments, a unit of Saudi Arabia's Public Investment Fund (PIF), in February said it had bought a minority stake in sports streaming platform DAZN. Reuters reported in March that SURJ was considering investing in a new body which World Athletics may potentially set up to manage the sport's commercial rights. Women's rights activists and members of the LGBTQ community have accused Saudi Arabia of 'sports-washing' and criticise the country's human rights record, even as it pumps huge amounts of money into sports including soccer, Formula One, tennis and golf. The country denies accusations of human rights abuses and says that it protects its national security through its laws.
Zawya
18 hours ago
- Business
- Zawya
PIF's sports investment firm Surj backs triathlete group PTO's funding
Saudi Arabia's Surj Sports Investment has participated in the Series C funding of Professional Triathletes Organisation (PTO) PTO founding investor Michael Moritz, Cordillera Investment Partners and Verance Capital also participated in the funding, which raised approximately $40 million, according to Bloomberg. Earlier this month, Sky News reported Surj was in advanced talks to inject $20 million into PTO. Saudi Arabia's $1.15 trillion wealth fund, PIF, set up Surj Sports Investment in 2023 to develop a sports sector via strategic investments. The Saudi investment is expected to fuel the expansion of the athlete-owned entity into the kingdom and the wider region, while also positioning it as a likely future host market for PTO's flagship T100 Triathlon World Tour championship race, according to a statement. (Writing by Bindu Rai, editing by Seban Scaria)
The Herald Scotland
18 hours ago
- Business
- The Herald Scotland
Professional Triathlon Organisation announces Series C funding boost
PTO CEO Sam Renouf welcomed the news, with the hopes that further funding can also help propel their T100 Triathlon World Tour to greater heights. 'We're delighted to welcome SURJ and Verance Capital to the PTO investor family," he said. "This is a major milestone not only for us as an organisation, but for the broader vision of triathlon's future. "Our goal has always been to reimagine the sport for modern audiences and open up participation to athletes of all levels. "With new partners like SURJ and Verance, we're better equipped than ever to scale our ambitions globally. "The momentum from our record-breaking T100 Singapore event is just the beginning of what we hope to achieve in 2025 and beyond.' The Series C investment comes at a time of growth for the PTO. In 2024, the organisation launched the T100 Tour and the event has rapidly expanded in the past 18 months. With the wellbeing of professional athletes at its heart and widespread fan participation events, the T100 has attracted thousands of eyes to the endurance sport in less than two years and a new round of funding will be viewed as a critical opportunity to only further enhance it's position amongst elite sport. The next T100 Triathlon World Tour race takes place in London on 9-10 August. Visit
Yahoo
18 hours ago
- Business
- Yahoo
Professional Triathlon Organisation announces Series C funding boost
The Professional Triathletes Organisation has announced a new injection of funding to help in their mission to redefine endurance sport. The successful completion of a Series C funding round, led by SURJ Sports Investment and supported by Cordillera, Verance Capital and Sir Michael Moritz, will support the PTO's continued growth in international markets as well as building long-term athlete and fan engagement. PTO CEO Sam Renouf welcomed the news, with the hopes that further funding can also help propel their T100 Triathlon World Tour to greater heights. 'We're delighted to welcome SURJ and Verance Capital to the PTO investor family," he said. "This is a major milestone not only for us as an organisation, but for the broader vision of triathlon's future. "Our goal has always been to reimagine the sport for modern audiences and open up participation to athletes of all levels. "With new partners like SURJ and Verance, we're better equipped than ever to scale our ambitions globally. "The momentum from our record-breaking T100 Singapore event is just the beginning of what we hope to achieve in 2025 and beyond.' The Series C investment comes at a time of growth for the PTO. In 2024, the organisation launched the T100 Tour and the event has rapidly expanded in the past 18 months. With the wellbeing of professional athletes at its heart and widespread fan participation events, the T100 has attracted thousands of eyes to the endurance sport in less than two years and a new round of funding will be viewed as a critical opportunity to only further enhance it's position amongst elite sport.
