Unrivaled reaches $650M valuation following successful Series C fundraise

The GIST: It’s Unrivaled’s world, and we’re just living in it. The upstart 3v3 women’s basketball league launched by superstars Napheesa Collier and Breanna Stewart is thriving, announcing yesterday that it nearly doubled its valuation in just one year. Consider the bank open.

💸 The update: Unrivaled is officially oversubscribed, surpassing its initial $100M target and increasing the young league’s valuation to $650M (up from $340M last year). The Series C fundraise featured new and old investors alike, including reinvestments from retired NBA superstar Carmelo Anthony and Alex Morgan’s Trybe Ventures.

📈 The growth: This success shouldn’t come as a surprise — Unrivaled saw significant growth across all facets of business in its second season, bringing in $45M in revenue, up from $27M in 2025. From ticket transactions (up 204% YoY) to merch sales (up 130% YoY), the demand for Unrivaled hoops is evident.

• Part of what makes the league unique is its player-first model, where Unrivaled’s stars remain its biggest shareholders. The value of the player equity pool has exploded, increasing 550% to almost $200M over the league’s two years of existence.

👀 What’s next: More of the same because if it ain’t broke, why fix it? Unrivaled plans to expand its tour model to eight cities in 2027 after successful stints in Philadelphia’s Xfinity Mobile Arena (where it set the women’s basketball attendance record) and NY’s Barclays Center for the league’s playoff run. Talk about a slam dunk.