Unrivaled raises over $100M in oversubscribed Series C
The women’s basketball league Unrivaled said its Series C fundraise has surpassed an initial $100 million target and is now oversubscribed at a $650 million valuation. Ten Pillars Sports Fund, backed by UC Investments, led the round, with returning investors including Carmelo Anthony, Ashton Kutcher, and Alex Morgan and Trybe Ventures.
Key Takeaways
- Unrivaled’s Series C raise topped its $100 million goal and is oversubscribed at a $650 million valuation.
- Ten Pillars Sports Fund, backed by UC Investments, led the round; Carmelo Anthony, Ashton Kutcher, and Alex Morgan are among returning investors.
- Players remain the largest equity group, with the player equity pool now valued at nearly $200 million.
- Season three tips off in January 2027 and will air nationally across TNT Sports.
- The raise follows a September 2025 Series B that valued the league at $340 million.
What did Unrivaled announce in its Series C raise?
Per Variety, Unrivaled—the women’s three-on-three basketball league—said its Series C campaign has moved past a $100 million target. The oversubscribed round values the league at $650 million.
Founded in 2023 by Napheesa Collier and Breanna Stewart, Unrivaled was built so athletes can be real stakeholders. Players get equity alongside competitive salaries and benefits, and the league says they remain its largest shareholder group.
Who put money into the women’s basketball league Unrivaled?
Ten Pillars Sports Fund, backed by UC Investments (the University of California fund cited in coverage), led Series C. Named participants include Carmelo Anthony, Geno Auriemma, the Berman Family, Bessemer Venture Partners, Jenny Just, Ashton Kutcher, Alex Morgan and Trybe Ventures, Dan Rosensweig, and Trae Young.
CEO and co-founder Alex Bazzell said the capital fuels the next stage of growth and more opportunity for elite players while elevating the game for fans. UC Investments chief investment officer Jagdeep Singh Bachher said the moment for women’s sports is here and that the fund is excited to help propel that momentum.
Why does this matter for fans watching on TV?
Unrivaled’s second season brought growth in ticketing, merchandise, social engagement, and attendance, including sold-out road stops at Xfinity Mobile Arena in Philadelphia and Barclays Center in Brooklyn. The league expanded to eight clubs and 54 players ahead of schedule.
Season three tips off in January 2027 and will air nationally across TNT Sports—key context for readers following Streaming & TV Alerts. Inner Circle Sports, a William Blair business, represented Unrivaled on the fundraise.
How does player ownership fit Unrivaled’s model?
Since launch, the value of the player equity pool has risen more than 550% and is now worth close to $200 million, the league said. Co-founder Breanna Stewart framed the raise as confidence in a model where the best players hold a real stake in the value they create.
Co-founder Napheesa Collier said the investment helps raise the standard for players and fans. Series C builds on a September 2025 Series B that took Unrivaled to a $340 million valuation, following earlier backing from figures including Giannis Antetokounmpo, Stephen Curry, Billie Jean King, Dawn Staley, and Warner Bros. Discovery.