Serena Williams Investment Boosts League Value to $340M
Unrivaled: Serena Williams and Investors Fuel $340 Million Valuation for Women’s 3-on-3 League
Medley, Florida - unrivaled, the groundbreaking women’s 3-on-3 basketball league, has announced a staggering $340 million valuation following a Series B funding round that includes tennis icon Serena Williams’ Serena Ventures. This marks a dramatic rise from the league’s $95 million valuation just a year ago, according to sources familiar with the matter.
The investment, led by Bessemer Venture Partners, also includes participation from Warner Bros. Discovery and alex Morgan’s Trybe Ventures. While individual contributions remain undisclosed, the influx of capital underscores the surging popularity and value of women’s sports.
“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.
Unrivaled, founded in 2023, provides a crucial platform for women’s professional basketball players during the WNBA offseason. Historically, many players have sought additional compensation by playing abroad. Unrivaled offers an choice, keeping talent stateside and providing a league that boasts the highest average salary in professional women’s sports history, along with equity for its players.
This stands in stark contrast to the WNBA, were players are currently negotiating their collective bargaining agreement, with increased compensation being a central point of discussion. WNBA Commissioner Cathy Engelbert recently noted the rising tide in women’s basketball, stating that the average WNBA team valuation has increased to approximately $260 million.
Beyond Williams, Unrivaled boasts an remarkable roster of investors, including tennis legend Billie Jean King, NBA superstar Stephen Curry, tennis champion Coco Gauff, and Olympic swimmer Michael Phelps.
Bessemer Venture Partners, known for its investments in StubHub, BallerTV, and Twitch, sees Unrivaled as a blueprint for the future of sports leagues. ”We always look for category-defining businesses with generational tail winds and realy audacious founders who kind of have that product hard to fit,” said Caty Rea,a vice president at Bessemer. “We felt like we found that with Unrivaled.”
The new funding will be strategically allocated to enhance the league’s facilities and further develop its resources, solidifying Unrivaled’s position as a leader in women’s sports and a game-changer for its athletes.