PTO Announces Series C Funding Led by Saudi-backed SURJ Sports Investment and Michael Moritz

July 28, 2025

The Professional Triathletes Organisation (PTO) has announced “the successful completion of a Series C funding round, led by SURJ Sports Investment (SURJ) and supported by Cordillera, Verance Capital and Sir Michael Moritz.” Reports put the total raised in the latest funding round at US$40 million.

This is big news for the organization and provides security as the company builds on its new mission as an events company that offers high-quality age-group events in addition to its flagship pro races.

SURJ was created in 2023 as part of the Saudi Arabia sovereign wealth fund to invest in sports properties. Earlier this year SURJ invested $1 billion to take a 10 percent stake in streaming platform DAZN. According to a report from Sky News earlier this year, SURJ invested $20 million with the PTO. Slowswitch