On July 28, SURJ’s capital injection as part of a Series C funding round for the PTO was announced, with an estimated total capital raise of $40 million. Also participating in the round are Sir Michael Moritz, Sequoia Capital, and Verance Capital.
“This is a major milestone not only for us as an organisation, but for the broader vision of triathlon’s future,” said PTO CEO Sam Renouf. “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 announcement follows a $10 million funding boost from Cordillera Investment Partners earlier this year and also builds on earlier support from Warner Bros. Discovery, Divergent Investments, and health-focused venture fund Eckuity.
SURJ CEO Danny Townsend emphasized the alignment between the two organizations. “The PTO is redefining endurance sport for modern audiences, blending elite racing with inclusive, mass participation formats, global storytelling and community engagement. 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. I saw the power of the platform first-hand at the 2024 finale in Dubai – and it’s clear the T100 Tour is just getting started.”
The investment will help to propel growth for the organization, with a particular focus on the Saudi Arabia and broader MENA (Middle East and North Africa) region.
In an interview with CNBC, Townsend explained how the investment aligns with the Saudi Vision 2030: “We align to the Ministry of Sports National Sports Strategy. So any of the top 20 sports that they identify as being important to the kingdom, we naturally will try and find ways in which we can invest in those sports to achieve the objectives of our mandate at SURJ.” He added that while return on capital is important, so too is the impact SURJ can have on domestic sport.
This strategic partnership opens the door for Saudi Arabia to host a future stop on the T100 calendar. The 2025 T100 season currently includes nine races on four continents, including stops in Singapore, San Francisco, Vancouver, London, France, Valencia, and Woolongong. The World Championship final will be held in Doha, Qatar, the first of a five-year agreement with the Gulf nation.
In a recent Instagram post, the T100 brand stated that this investment will support “international growth, innovation in race formats and long-term athlete and fan engagement.”
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With new capital, expanding global interest, and a commitment to elevating the sport, the PTO appears well-positioned to lead triathlon into a bold new chapter.
The post PTO Secures Funding Boost to Expand Global Reach appeared first on Triathlon Magazine Canada.