Unrivaled, the three-on-three women's basketball league, has achieved a significant milestone by securing over $100 million in its latest Series C funding round, pushing its valuation to an impressive $650 million. This substantial investment, which surpassed its initial target, underscores growing confidence in women's sports and the league's innovative player-first model. With support from a diverse group of investors, Unrivaled is poised for further expansion and aims to elevate the professional landscape for female athletes.
The recent funding initiative was spearheaded by Ten Pillars Sports Fund, which operates with the backing of UC Investments, the entity overseeing the University of California system's financial portfolios. This robust lead investment was complemented by contributions from a wide array of high-profile individuals and venture groups. Among the prominent investors are basketball icon Carmelo Anthony, esteemed collegiate coach Geno Auriemma, the philanthropic Berman Family, Bessemer Venture Partners, Jenny Just, actor Ashton Kutcher, soccer star Alex Morgan, and investment firms like Trybe Ventures, alongside business leader Dan Rosensweig and NBA player Trae Young. These diverse endorsements highlight a broad belief in the league’s potential and its unique approach to athlete empowerment.
Established in 2023 by WNBA stars Napheesa Collier and Breanna Stewart, Unrivaled is preparing for its third season, scheduled to commence in January 2027. The league has secured a national broadcast agreement with Warner Bros. Discovery's TNT Sports, expanding its reach significantly. Warner Bros. Discovery is also an existing investor, signaling continued commitment to the league’s success. A cornerstone of Unrivaled's operational strategy is its "player-first" compensation system. This innovative model not only offers competitive salaries and comprehensive benefits but also provides participating athletes with equity opportunities within the league. Since its inception, the value of this player equity pool has surged by over 550%, now estimated at nearly $200 million, demonstrating the tangible benefits of player ownership.
Unrivaled CEO and co-founder Alex Bazzell emphasized that the current capital infusion is critical for fueling the league's next phase of development and broadening its influence within the women's basketball community. Bazzell noted that the league is collaborating with investors who share their long-term vision of creating enduring value and enhanced prospects for the world’s elite players, all while enriching the fan experience. He reiterated that Unrivaled was conceived by and for players, asserting that their leadership, ambition, and ownership are driving the league forward and redefining standards in professional sports. The league’s second season witnessed remarkable growth across various metrics, including merchandise sales, ticketing, fan engagement, and digital presence, culminating in record-breaking attendance figures. The 2026 season saw an expansion to eight teams and 54 players ahead of schedule, with sold-out events in major venues like Philadelphia’s Xfinity Mobile Arena and Brooklyn’s Barclays Center, showcasing substantial market demand.
Jagdeep Singh Bachher, CIO of UC Investments, commented on the opportune moment for women’s sports, stating, "Young people get it. We get it. Anyone who's watched Unrivaled knows this game is every bit as thrilling as any other sport out there. We're excited to help propel that momentum forward." This funding round follows a previously oversubscribed Series B investment in September 2025, which had already boosted the league's valuation to $340 million. Earlier investors include a notable roster of sports figures, business leaders, and institutional investors, such as Giannis Antetokounmpo, Stephen Curry, Billie Jean King, and Warner Bros. Discovery. Breanna Stewart, co-founder of Unrivaled, highlighted that the recent investment reflects investors' confidence in the league's core mission: empowering players to have a direct stake in the value they generate. She affirmed that this capital would provide greater resources to support athletes, enhance the fan experience, and foster a league that is actively shaping the future of women’s basketball. Napheesa Collier, also a co-founder, added that the investment enables Unrivaled to continuously elevate the standards for women's basketball, offering an optimal environment for players to excel and delivering an increasingly engaging experience for the growing fan base.
