Unrivaled, the women’s three-on-three basketball league, announced that its Series C fundraise has surpassed an initial $100 million target and is now oversubscribed — valuing the league at $650 million.
The funding round was led by Ten Pillars Sports Fund, backed by UC Investments, which manages the University of California system’s investment funds. Other participants in the round included Carmelo Anthony, Geno Auriemma, the Berman Family, Bessemer Venture Partners, Jenny Just, Ashton Kutcher, Alex Morgan and Trybe Ventures, Dan Rosensweig and Trae Young.
Founded in 2023 by women’s basketball stars Napheesa Collier and Breanna Stewart, the league’s third season tips off in January 2027 and will air nationally across Warner Bros. Discovery’s TNT Sports. (WBD is an existing investor in Unrivaled.)
According to the league’s founders, a key element of the Unrivaled business model is its “player-first” compensation structure, which provides participating players with equity opportunities in addition to competitive salaries and benefits. Since the league’s formation, the value of the player equity pool has increased more than 550% and is now worth close to $200 million.
“This raise is fueling the next stage of Unrivaled’s growth and expanding our impact across the women’s basketball ecosystem,” Unrivaled CEO and co-founder Alex Bazzell said in a statement. “We’re partnering with investors who share our vision to create lasting value and greater opportunity for the best players in the world, while continuing to elevate the game for fans. Unrivaled was built by players and for players, and their ownership, leadership and ambition continue to drive the league forward and define a new model for the sport.”
