Unrivaled women's basketball league reaches $650M valuation

The Unrivaled women’s 3x3 basketball league has reached a $650 million valuation following an oversubscribed Series C funding round that raised more than $100 million. The funding round, led by Ten Pillars Sports Fund, exceeded the league’s initial target and includes investors such as Carmelo Anthony, Ashton Kutcher, Alex Morgan, and Trae Young.

Founded by WNBA players Napheesa Collier and Breanna Stewart, the league utilizes an athlete-owned business model. The player equity pool has grown by more than 550% since its inception and is currently valued at nearly $200 million.

Following successful sellout events in Philadelphia and Brooklyn, the league plans to expand its presence to four times as many cities as last season and move to a larger venue in its Miami hub.