Unrivaled has reached a $340 million valuation following a Series B funding round, signaling rapid growth for the WNBA offseason league as it looks to expand player facilities, and maybe land Caitlin Clark.
The league will look to use the cash to also improve fan engagement and its overall operational footprint after exceeding expectations in its inaugural outing, ahead of WNBA preseason.
Unrivaled, co-founded by Breanna Stewart and Napheesa Collier, nearly doubled revenue projections, giving the organization flexibility to accelerate development as investments came from a diverse group of stakeholders.
That includes Serena Williams‘ venture firm Serena Ventures, Warner Bros. Discovery, Trybe Ventures, and lead investor Bessemer Venture Partners. The Unrivaled president said the funding will allow the league to execute projects initially planned over five years in just three.
“Because we outperformed our revenue expectations in season one by almost doubling it,” Alex Bazzell told ESPN. “It allows us to move a bit quicker. It’s become a three-year roadmap [instead of five]. In year two, we are really going to double down on the athletes.”
The league has also emphasized player ownership. In its first season, all participants received equity in Unrivaled, establishing a model that allows athletes to benefit directly from the organization’s growth.
Bazzell explained that this approach ensures players are not only provided resources but also reap the financial upside of the league’s valuation increases.
“They are largely majority shareholders,” Alex added. “They are going to reap the benefits of these growing valuations, not just, ‘oh, congrats, good job,’ and ‘you’ll get better resources.’ Our whole brand ethos is coming into effect and improving itself in a short amount of time.”
Could Caitlin Clark join the Unrivaled league?
Amid this rapid expansion, Caitlin Clark remains a tantalizing potential addition to the league after initially rejecting competition in its debut season.
However, she is now on a run of poor health with repeat injuries and has barely shot a basket since July, so the chance to play in the 3×3 games could serve as an opportunity to improve her match sharpness in both offense and defense.
Bazzell acknowledged her status as one of the top players eligible for offseason competition but emphasized that Unrivaled does not pressure athletes into joining.
“How we approach it is we don’t really apply pressure,” Bazzell said, per Sports Business Journal. “Everyone who’s not currently in the league and who’s a top player, not just her, knows we’re a phone call away. It doesn’t mean there’s always going to be a spot because we have to fill spots… But she’s one of the rare players who – she was first-team all W last year. She’s a great player. So we haven’t really approached those conversations. We aren’t in conversations. Do I think she should play this offseason? Yeah, I do think she should play somewhere.”
Clark‘s potential presence adds another layer of interest and marketability to Unrivaled. As one of the most dominant players in college basketball in recent years, her inclusion would likely drive ticket sales, sponsorships, and media attention, further enhancing the league’s growth trajectory.
While recovering from a groin injury, Clark remains a figure of significant influence within the sport, and her eventual participation could coincide with Unrivaled‘s strategic expansion plans, including additional practice facilities, new fan seating areas, and a second practice court.
The combination of high-profile investors, player ownership models, and a growing roster of elite talent illustrates how Unrivaled has positioned itself as a serious contender in the WNBA offseason ecosystem.
Clark‘s potential involvement represents both a symbolic and practical boost, underscoring how the league leverages elite athletes to accelerate its financial and competitive ambitions.
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