Unrivaled: Women's 3-on-3 Basketball League Valued at $340 Million Receives Major Funding Boost
A women's 3-on-3 basketball league called Unrivaled has recently received a significant boost in its valuation, now reaching $340 million after a successful funding round. The funding round, led by Bessemer Venture Partners, also saw participation from Serena Williams' Serena Ventures, Warner Bros. Discovery, and Alex Morgan's Trybe Ventures. The exact amounts of the contributions were not disclosed. This increase in valuation marks a substantial growth from the league's previous valuation of $95 million just a year ago.
The investment from Serena Williams and other high-profile investors underscores the rising popularity and value of women's sports in recent years. Unrivaled, founded in 2023, provides professional women basketball players with a league that operates during the WNBA offseason, offering the highest average salary in the history of professional women's sports and equity to its players. This stands in contrast to the WNBA, where players are currently negotiating for increased compensation as their collective bargaining agreement nears expiration on October 31.
The league's roster of investors includes notable names like Billie Jean King, Stephen Curry, Coco Gauff, and Michael Phelps. Bessemer Venture Partners, known for its investments in StubHub, BallerTV, and Twitch, views Unrivaled as a pioneering model for the future of sports leagues. The funding will be utilized to enhance league facilities, support player development initiatives, and raise awareness as Unrivaled gears up for its second season.
With a focus on building a strong and engaged audience through television and social media platforms, Unrivaled aims to expand its reach and solidify its presence in the sports industry. The league's commitment to providing equitable opportunities for women athletes sets it apart in the evolving landscape of professional sports. The latest funding round signifies a significant milestone for Unrivaled as it continues to redefine the standards for women's sports leagues.