MEDLEY, FLORIDA – FEBRUARY 21: Angel Reese #5 of Rose goes up for a shot against the Lunar Owls during the second half at Wayfair Arena on February 21, 2025 in Medley, Florida. (Photo by Rich Storry/Getty Images)
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Unrivaled Basketball has surpassed its $100 million fundraising target in an oversubscribed Series C round that values the women’s basketball league at $650 million, the organization announced Wednesday.
Ten Pillars Sports Fund, backed by UC Investments, led the round. Unrivaled did not disclose the final amount raised. The round also included investments from Jenny Just, Carmelo Anthony, Geno Auriemma, the Berman family, Bessemer Venture Partners, Ashton Kutcher, Alex Morgan and Trybe Ventures, Dan Rosensweig and Trae Young.
The Series C round builds on an oversubscribed Series B investment announced in September 2025 that increased Unrivaled’s valuation to $340 million.
WNBA stars Napheesa Collier (Minnesota Lynx) and Breanna Stewart (New York Liberty) founded Unrivaled in 2023. The league gives participating players equity opportunities in addition to salaries and benefits. Unrivaled said players remain its largest shareholder group and that the player equity pool is now valued at nearly $200 million, an increase of more than 550% since its inception.
“This raise is fueling the next stage of Unrivaled’s growth and expanding our impact across the women’s basketball ecosystem,” CEO and co-founder Alex Bazzell said in a statement.
Bazzell said the league is working with investors who share its goal of creating value and opportunities for players while improving the game for fans. He described player ownership, leadership and ambition as central to the league’s model.
“The moment for women’s sports is here,” Jagdeep Singh Bachher, chief investment officer at UC Investments, said in a statement. “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.”
Investment In Unrivaled Basketball Follows Organic Growth
The funding follows Unrivaled’s second season, when the league expanded to eight clubs and 54 players ahead of schedule. Unrivaled reported growth in ticketing, merchandise, social media, fan engagement and its digital operations.
The league also took its games on the road for the first two times, drawing sold-out crowds at Xfinity Mobile Arena in Philadelphia and Barclays Center in Brooklyn, New York. Unrivaled said the Philadelphia event set records for the highest-attended regular-season professional women’s basketball game and the highest-attended event at Xfinity Mobile Arena.
“From the beginning, our goal has been to raise the standard for what players and fans should expect from women’s basketball,” Collier said in a statement. She said the investment would help create an environment in which players can compete and thrive while improving the experience for fans.
Stewart said the funding reflects investor confidence in a league designed to give players a stake in the value they create.
“Moving forward, this investment gives us even more resources to support our players, elevate the experience for fans, and grow a league that is shaping the future of women’s basketball,” she said.
Maddie Winslow, a director at Inner Circle Sports, said the league’s record of execution helped generate demand for the fundraising round. Inner Circle Sports represented Unrivaled in the transaction.
Unrivaled Basketball’s third season is scheduled to begin in January 2027 and will air nationally across TNT Sports. Some confirmed stars for season three include Gabby Williams (Golden State Valkyries), Olivia Miles (Minnesota Lynx), Flau’Jae Johnson (Seattle Storm) and Marine Johannès (New York Liberty).
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