Professional women’s basketball league Unrivaled announced the closing of its oversubscribed Series A investment round led by the Berman Family, securing $28 million in funding. This funding round includes investments from 8-time NBA All-Star and NBA Champion Giannis Antetokounmpo and Build Your Legacy Ventures; Co-Owner/CEO of Boston Globe Media and Partner at Fenway Sports Group Linda Henry; Avenue Sports Fund and Marc Lasry; 23-time Gold Medalist, World Champion, and Mental Health Advocate Michael Phelps and Nicole Phelps, President of Michael Phelps Foundation and Mental Health Advocate; 3-time NCAA Champion Head Coach for South Carolina Women’s Basketball Dawn Staley; Warner Bros. Discovery; Sophomore Guard at USC JuJu Watkins, and others.
Many industry titans and all-star groups of investors that led the $7 million seed round contributed to Series A funding with additional leading institutional investors, sports icons, and business leaders. And both the seed and Series A rounds totaled $35 million for the new professional women’s basketball league ahead of its inaugural season. Accelerate Sports served as Unrivaled’s investment bank for the capital raise.
Unrivaled’s Series A round also includes investment from:
— Amy Banse: Venture Partner, Mosaic, Board Member and Investor, and retired Comcast Corp Executive
— Black Economic Alliance Venture Fund
— Threadneedle Ventures
— Off-Court Ventures
— Richard ‘Rip’ Hamilton: Former NBA All-Star and Champion with the Detroit Pistons
— Joe Ingles: 11-year NBA veteran and 5-time Olympian for the Australian Men’s National Team
Unrivaled was first revealed in 2023 by co-founders Napheesa Collier and Breanna Stewart. And in May 2024, the League announced an oversubscribed seed round with a star-powered group of investors, many of whom have committed additional investment into this round, including Alex Morgan and Trybe Ventures, Dan Benton, Carmelo Anthony, Geno Auriemma, Moira Forbes, Tyus & Tre Jones, Ashton Kutcher, Dan Rosensweig, John Skipper, Richard Sarnoff and Gary Vaynerchuk.
A league owned by players, every Unrivaled athlete participating in the inaugural season has equity and a vested interest in its success. In November, the League announced its six club rosters and full 2025 schedule. And Unrivaled will tip off on January 17, 2025 on TNT Sports, with exclusive live game coverage on TNT and truTV, and all games streamed on Max.
KEY QUOTES:
“As women’s sports continue to surge in popularity and impact, we’re inspired by the growing momentum around Unrivaled and grateful for the strong support from our investors. Our players haven’t even taken the court yet and the foundation we are building with our partners unites unparalleled expertise, strategic insight, and an incredible product. Together, we’re setting the stage for Unrivaled for years to come.”
- Unrivaled President Alex Bazzell
“Based on Avenue Sports’ deep understanding of basketball globally, we believe Unrivaled is well-positioned to thrive in the larger sports ecosystem and we’re proud to back this exciting new league. Unrivaled is setting the standard through their innovative business model at a pivotal time in the growth trajectory of women’s sports.”
- Marc Lasry, Avenue Capital’s Chairman, CEO and Co-Founder
