Eckuity, a global investment firm that invests in life science and health-tech companies, has joined Michael Moritz (pictured above with a number of the sport’s top pros) with an investment in the Professional Triathletes Organisation (PTO).
“The reason for the investment in the fastest growing sports discipline in the world is to be able to access a highly desirable yet difficult to reach consumer by providing a distribution platform to companies developing innovative health, wellness, and medical tech products,” businesswire.com reports.
According to Sports Pro Media, “the strategic investment will see the creation of a distribution platform for companies developing new health, wellness and medical technology products looking to reach consumers involved with triathlon.”
The bottom line is this is big news for the PTO, who have been making huge inroads in triathlon racing for long distance professionals, but at a cost – the company is reported to have raised a second round of investment last fall. Bringing Eckuity on board provides another big name to the investment list for the organization. It also opens the doors for companies to see the organization as a good option for reaching the triathlon market.
The PTO also sees the partnership as a way to provide more advanced technologies to the triathlon community.
“Our PTO Professionals provide an inspiration to all those who face challenges in their lives and want to overcome obstacles and achieve their potential,” said the PTO’s Executive Chairman, Charles Adamo. “We believe Eckuity’s healthcare expertise will assist in our goal of creating a more health and wellness conscious community by providing access to innovative healthcare technologies.”