Unrivaled Women's Basketball League Raises Over $100 Million, Valued at $650 Million
Unrivaled, the women's 3-on-3 basketball league founded by players Napheesa Collier and Breanna Stewart, has closed a Series C funding round that surpassed its $100 million target and is now oversubscribed — meaning investors committed more money than the league sought to raise. The round values Unrivaled at $650 million, nearly double the $340 million valuation it carried after its Series B in September 2025. Variety
The round was led by Ten Pillars Sports Fund, backed by UC Investments — the manager of the University of California system's investment funds, whose chief investment officer is Jagdeep Singh Bachher. It drew a roster of names from across sports and entertainment: NBA players Carmelo Anthony and Trae Young, UConn women's basketball coach Geno Auriemma, actors Ashton Kutcher, former US soccer star Alex Morgan, venture firm Bessemer Venture Partners, and executives including Dan Rosensweig and Jenny Just. Variety
Warner Bros. Discovery, which airs Unrivaled's games nationally through TNT Sports, is an existing investor. The league's third season tips off in January 2027 on that network. Variety
The money arrives after a sophomore season that saw Unrivaled expand to eight clubs and 54 players ahead of schedule, and play to sold-out crowds at the Xfinity Mobile Arena in Philadelphia and Barclays Center in Brooklyn. Its first season, which ran from January to March 2025, reached more than 11.9 million viewers and delivered the 10 most-watched women's basketball games ever broadcast on TNT, according to the league. Unrivaled
The league has been on a fast fundraising arc. Its Series A, closed in December 2024, brought total capital to $35 million. The Series B in September 2025, headlined by Bessemer Venture Partners, lifted the valuation to $340 million. Less than a year later, the Series C has nearly doubled that figure. Unrivaled
One number sits behind the headlines: since Unrivaled's formation in 2023, the value of its player equity pool has risen more than 550% and now sits close to $200 million. Players hold ownership stakes in the league they compete in — a structure Alex Bazzell, Unrivaled's CEO and co-founder, has built into the model from the start. Variety
For fans, the January 2027 tip-off is still months away. But the funding, the expanded club roster, and the TNT Sports partnership mean the third season arrives with more infrastructure behind it than the first two combined.
