How Unrivaled is building a $650M women’s basketball league with players at the helm
Professional three-on-three women’s basketball league Unrivaled is headed into its third season with a serious infusion of cash. The two-year-old league on Wednesday announced the completion of its Series C funding round, which brought in more than $100 million and values the organization at $650 million—nearly double its valuation last fall. Led by the University of California-backed Ten Pillar…
Unrivaled, a women's basketball league, is preparing for its third season with a significant investment of over $100 million, valuing the organization at $650 million. This Series C funding round, led by the University of California-backed Ten Pillar Sports Fund, marks a substantial increase from the league's $350 million valuation during its earlier Series B round.
The league's investors, including NBA star Carmelo Anthony, soccer player Alex Morgan, actor Ashton Kutcher, and Washington Wizards point guard Trae Young, bring not just financial backing but also valuable contributions to Unrivaled's growth.
A key aspect of Unrivaled's funding strategy is its unique model, allowing players to gain an equity stake in the league. Co-founded by WNBA superstars Napheesa Collier and Breanna Stewart, Unrivaled initially aimed to provide an alternative for players who typically spend their offseasons competing overseas. The league's ten-week calendar keeps players in Miami, offering competitive salaries, benefits, and year-round exposure to fans, which enhances their personal brands and the league's visibility.
The league's success was evident in Season 2, which generated $45 million in revenue, with a 130% increase in merchandise sales and a massive 204% rise in ticket sales. Social media engagement also soared, with over 1.2 billion earned impressions across Unrivaled's platforms. Unrivaled players have become shareholders, with their equity pool growing 290% from $30 million in 2025 to over $120 million during the second season.
The league's innovative format, featuring compressed court games over four quarters, has captivated audiences. Notable games took place in Philadelphia and Brooklyn, breaking attendance records. Season 3 will expand to eight arenas nationwide, starting with a road-based season. The league continues to attract top-tier talent through its robust NIL strategy, bringing in WNBA rookies and international stars. With a $200 million player equity valuation, Unrivaled is positioned for even greater growth in the coming years.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
