Business is booming for Unrivaled 3×3 Basketball, with Monday's Series B investment round valuing the upstart offseason league at $340 million — a 10-fold increase over its initial May 2024 valuation.
Founded by WNBA stars Breanna Stewart and Napheesa Collier in 2023, Unrivaled's most recent investors include Serena Ventures, Warner Bros. Discovery, and soccer legend Alex Morgan's Trybe Ventures, as well as buy-ins from NBA players Trae Young, Franz Wagner, and Moritz Wagner plus sports executive Sam Rapoport.
With $35 million raised well ahead of tip-off, the competition's 2025 inaugural season reportedly came close to breaking even via TV and sponsorship deals — even while paying the highest average salaries in women's team sports.
"Because we outperformed our revenue expectations in season one by almost doubling it, it allows us to move a bit quicker," Unrivaled president Alex Bazzell told ESPN following the league's valuation increase on Monday.
Unrivaled is planning to use some of the new funding to expand its Miami venue, building out a new practice court alongside 150 additional spectator seats.
As the league prepares for its second season, the 3×3 venture anticipates turning a profit in 2026, all while increasing pay and equity for participating players.
"[Players] are largely majority shareholders," Bazzell said. "They are going to reap the benefits of these growing valuations."