Serena Williams Joins Investment Round as Women’s Basketball League Unrivaled Reaches $340 Million Valuation

Women’s 3-on-3 basketball league Unrivaled has reached a $340 million valuation following a new Series B funding round led by Bessemer Venture Partners, with participation from Serena Williams’ Serena Ventures, Warner Bros. Discovery, and Alex Morgan’s Trybe Ventures. The funding represents a sharp increase from the league’s valuation of $95 million just one year ago and underscores the growing momentum behind women’s sports globally.

The league announced in early September that the new capital will support expanded facilities, player development initiatives, and efforts to increase awareness as Unrivaled prepares for its second season. While individual investment amounts were not disclosed, the addition of Williams marks a significant moment for the league, which has already attracted high-profile support from prominent athletes and industry leaders.

Women playing basketball | Source: Pexels

Investor Support and Growing Recognition

“To add arguably the most iconic female athlete to play sports, I think it exemplifies who Unrivaled is not just with our players on the court, but the number of investors on our cap table who had been icons in their own lanes,” said Alex Bazzell, co-founder and president of Unrivaled. Other notable backers include tennis legend Billie Jean King, NBA star Stephen Curry, tennis champion Coco Gauff, and Olympic swimmer Michael Phelps.

Bessemer Venture Partners, which has previously invested in StubHub, BallerTV, and Twitch, described Unrivaled as a model for the next generation of sports leagues. “We always look for category-defining businesses with generational tail winds and really audacious founders who kind of have that product hard to fit,” said Caty Rea, vice president at Bessemer. “We felt like we found that with Unrivaled.”

A New Model for Women’s Professional Basketball

Founded in 2023, Unrivaled operates during the WNBA offseason, offering women’s professional basketball players an alternative to playing overseas for additional compensation. The league emphasizes financial opportunity, stating it provides the highest average salary in professional women’s sports history while also offering players equity stakes—a benefit not currently available in the WNBA.

The contrast comes as the WNBA’s own players negotiate a new collective bargaining agreement, with compensation among the key issues under discussion. WNBA Commissioner Cathy Engelbert said in July that the average WNBA team valuation has risen to approximately $260 million, reflecting a broader rise in interest and value across women’s sports.

Women playing basketball | Source: Pexels

Plans for Growth

With its valuation climbing more than threefold in a year, Unrivaled plans to use the new funding to strengthen its infrastructure and audience reach. “We’ve built a sustainable and sticky audience, both on television and certainly on social. So now we have to grow that footprint,” Bazzell said.

To sum up: Women’s 3-on-3 basketball league Unrivaled has hit a $340 million valuation after a Series B round led by Bessemer Venture Partners, with Serena Williams’ Serena Ventures among investors. Founded in 2023, the league offers players top salaries and equity, and will use the funding to expand facilities, development, and awareness ahead of its second season.