Just seven months after its debut season concluded, the women`s sports league Unrivaled has announced a significant valuation of $340 million. This impressive figure follows the successful close of a Series B investment round, marking a pivotal moment for the burgeoning league.
The investment round was spearheaded by Bessemer Venture Partners and saw participation from a roster of high-profile investors. Among them are Serena Williams` venture capital firm, Serena Ventures, along with Warner Bros. Discovery and Trybe Ventures. Alex Bazzell, president of Unrivaled, confirmed that the valuation was a result of negotiations with Bessemer Venture Partners.
According to Bazzell, this new valuation and additional funding will “expedite [Unrivaled`s] growth strategy.” He noted that the league`s revenue performance in its first season, nearly doubling expectations, allows for a more rapid expansion. What was initially a five-year roadmap has now been condensed into three years, with a strong focus on further investing in athletes during the second year.
A portion of the newly acquired funds is earmarked for expanding Unrivaled`s venue space in Miami. Plans include adding 15,000 square feet dedicated to player facilities, which will feature a second practice court, and increasing the game arena`s seating capacity by 150.
The league is committed to its unique player-centric model, where the average salary for athletes will remain in six figures. Last season, players reportedly earned an estimated average of $222,222, and all received equity in the league. Going forward, equity distribution for new athletes will be determined on a case-by-case basis during contract negotiations. Bazzell emphasized that players are largely majority shareholders, ensuring they directly benefit from the league`s escalating valuations.
This latest funding round also attracted investments from several notable figures, including NBA players Trae Young, Franz Wagner, and Moritz Wagner, sports executive Sam Rapoport, and University of Maryland president Darryll J. Pines. These new investors join a distinguished group from the inaugural season, which included stars like Giannis Antetokounmpo, Carmelo Anthony, Stephen Curry, Coco Gauff, and Michael Phelps.
Unrivaled`s financial performance in its inaugural season was exceptionally strong, generating approximately $30 million in revenue – double the initial projections. This success is largely attributed to its multi-year media rights deal with TNT and key corporate sponsorships from brands such as Sephora, Ally, and Under Armour, alongside robust ticket and merchandise sales. After raising $35 million in initial funding, Unrivaled nearly broke even in its first year and is projected to turn a profit in its second season.
In terms of viewership, the league averaged 221,000 viewers on TNT and truTV during its debut. The championship game, a clash between the Rose and Vinyl teams, garnered 364,000 viewers. While these numbers are nascent compared to established leagues like the WNBA, which saw an average of at least 1 million viewers for 22 regular-season games on a major network and 670,000 on ION in 2024, Unrivaled`s initial figures represent a promising start for a new entrant in the competitive sports landscape.
