Unrivaled women’s basketball league is valued at $650 million after new funding round

Unrivaled, a 3-on-3 women's basketball league, has secured a new funding round valued at $650 million, announced Wednesday. This marks a significant increase from its valuation of $325 million a year ago after a Series B round. The league, which currently has eight teams, is set to begin its third season in the winter. Ten Pillar Sports Fund, led by UC Investments, led the Series C raise, which was oversubscribed and surpassed the league's initial $100 million target.

The league's president, Alex Bazzell, highlighted that the new funding will help bolster the league, elevate the fan experience, and propel women's basketball into the future. Co-founder Breanna Stewart stated that the investment reflects investor confidence in Unrivaled's vision. The league, which has a six-year media rights deal with TNT, had sold-out tour stops in New York and Philadelphia last year and plans eight tour stops in 2027. The season is scheduled to start in early January.