Serena Williams Joins Series B Funding Round in Women’s Basketball League Unrivaled
Unrivaled, a professional women’s 3-on-3 basketball league, announced Monday that its valuation has reached $340 million after closing a Series B funding round featuring tennis icon Serena Williams’ investment firm, Serena Ventures. This marks a substantial increase from the league’s $95 million valuation just one year prior, according to a source familiar with the matter.
The funding round was led by venture capital firm Bessemer Venture Partners and also included contributions from Warner Bros. Discovery and Trybe Ventures, led by soccer star Alex Morgan. Although the league did not disclose the exact amounts contributed by each investor, the capital infusion underscores growing investor confidence in women’s sports.
Strategic Growth Amid Rising Popularity of Women’s Sports
Founded in 2023, Unrivaled operates during the WNBA offseason, providing professional female basketball players with an alternative to overseas contracts, which have traditionally been a primary source of supplemental income. The league offers players the highest average salaries in professional women’s sports history along with equity stakes—an industry first compared to the WNBA, where players currently lack ownership shares.
Unrivaled co-founder and president Alex Bazzell highlighted the significance of adding Serena Williams to a roster of investors that includes other prominent athletes such as Billie Jean King, NBA star Stephen Curry, tennis champion Coco Gauff, and Olympic swimmer Michael Phelps. “To add arguably the most iconic female athlete to play sports exemplifies who Unrivaled is,” Bazzell said, emphasizing the league’s commitment to elevating women’s sports both on and off the court.
Venture Capital Confidence and Future Plans
Bessemer Venture Partners, with prior investments in sports-related platforms like StubHub and streaming service Twitch, views Unrivaled as a pioneering model for next-generation sports leagues. Caty Rea, Bessemer’s vice president, noted, “We look for category-defining businesses with generational tailwinds and founders with bold visions. Unrivaled fits that profile.”
The new funding will support enhancements to league facilities, player development programs, and marketing efforts to expand Unrivaled’s audience. The league has already cultivated a dedicated following through television broadcasts and social media engagement as it prepares for its second season.
Context Within Women’s Basketball Landscape
The WNBA, currently negotiating a new collective bargaining agreement set to expire on October 31, is focusing on improving player compensation and benefits. WNBA Commissioner Cathy Engelbert recently noted the average WNBA team valuation has climbed to approximately $260 million, reflecting growing commercial interest in women’s basketball.
Unrivaled’s innovative approach—combining competitive salaries, equity participation, and a seasonal schedule complementary to the WNBA—positions it as a notable development within the evolving ecosystem of women’s professional sports.
FinOracleAI — Market View
Unrivaled’s substantial valuation increase and high-profile investor backing, including Serena Williams, signal strong market confidence in the growth potential of women’s sports leagues. The league’s unique offering of player equity and competitive salaries addresses key industry gaps, enhancing its appeal among athletes and investors alike. However, as the league is relatively new, execution risks remain, particularly around scaling viewership and sustaining revenue streams.
Impact: positive
