Serena Williams Unrivaled investment brings league value to $340M

The world of women’s sports has seen a significant surge in popularity and valuations in recent years, and one league that’s reaping the benefits is Unrivaled, a women’s 3-on-3 basketball league. The league has just announced that it’s now valued at $340 million, thanks to a new funding round that included tennis legend Serena Williams’ investment firm, Serena Ventures.

This latest cash infusion represents a dramatic rise in the league’s valuation, which was just $95 million a year ago. The funding round was led by Bessemer Venture Partners and also included investments from Warner Bros. Discovery and Alex Morgan’s Trybe Ventures. While the individual contribution amounts were not disclosed, the investment is a significant boost for the league as it heads into its second season.

Unrivaled’s Mission and Impact

Unrivaled was founded in 2023 with the goal of providing women’s professional basketball players with a competitive league that runs during the WNBA’s offseason. The league offers its players the highest average salary in professional women’s sports history, as well as equity, which sets it apart from other leagues like the WNBA. The WNBA, for example, does not offer its players equity, and player compensation is currently a key issue being debated in the league’s collective bargaining agreement negotiations.

Unrivaled’s co-founder and president, Alex Bazzell, sees the investment from Serena Williams and other high-profile names as a testament to the league’s mission and potential. “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 have been icons in their own lanes,” Bazzell said.

Investment and Growth

Bessemer Venture Partners, which led the funding round, has a track record of investing in successful sports and entertainment companies, including ticketing resale site StubHub and streaming services BallerTV and Twitch. The firm sees Unrivaled as a blueprint for the next generation of sports leagues, with a focus on creating a sustainable and engaging fan experience. “We always look for category-defining businesses with generational tailwinds and really audacious founders who kind of have that product hard to fit,” said Caty Rea, a vice president at Bessemer.

The new funding will be used to add more resources to the league’s facilities, support developmental efforts, and create additional awareness of the league as it continues to grow. With a strong roster of investors and a clear mission, Unrivaled is poised to make a significant impact on the world of women’s sports and beyond.