Serena Williams Backs Unrivaled Women's Basketball League Now Worth $340 Million

The valuation of the women's 3-on-3 basketball league, Unrivaled, has surged to $340 million after securing investments in a new funding round, notably from tennis icon Serena Williams, as disclosed by the league on Monday.

Participating in the Series B funding drive through her venture capital firm, Serena Ventures, Williams joined forces with Bessemer Venture Partners and Alex Morgan’s Trybe Ventures. The specific amounts each entity contributed have not been revealed by Unrivaled.

The infusion of funds has sharply elevated Unrivaled's value compared to the previous year, during which an insider, preferring to remain unnamed, confirmed the league's valuation at $95 million.

This financial boost aligns with the recent surge in popularity and investment appeals of women's sports across the globe.

"Welcoming a sports figure of Serena Williams' stature exemplifies Unrivaled's ethos not only with the impressive talent on the court but also the caliber of investors backing us," remarked Alex Bazzell, Unrivaled co-founder and president.

Other prominent figures supporting Unrivaled include tennis legend Billie Jean King, NBA star Stephen Curry, tennis ace Coco Gauff, and Olympic champion Michael Phelps.

Bessemer Venture Partners, having previously backed companies like StubHub and Twitch, views Unrivaled as a pioneer in the evolution of sports leagues, according to vice president Caty Rea.

"Our aim is to identify transformative enterprises steered by visionary entrepreneurs, and Unrivaled fits this mold perfectly," Rea stated.

A New Path for Professional Women Athletes

Launched in 2023, Unrivaled provides a domestic platform for women's professional basketball talent during the WNBA's offseason, offering an alternative to playing abroad.

Remarkably, this league claims the highest average wages in the annals of professional women’s sports and seeks to grant players equity stakes, a benefit not currently offered by the WNBA, where collective bargaining is ongoing with compensation as a central concern.

With recent evaluations placing the value of average WNBA teams at around $260 million, Unrivaled is planning to use the latest capital to enhance facilities, focus on player development, and heighten the league's visibility as it enters its second season.

"Our core fan base, engaged through TV and social media, is solid. Our next steps involve expanding this audience," stated Bazzell.