Unrivaled $650 Million Series C
Oversubscribed. Up from $340 million. Players still the largest shareholders. Equity pool near $200 million.
Photo: Minnesota Lynx / NBAE via Getty Images. 2048×1365.
Pause it when the ball leaves her hand. Stewart's free throw closed the Unrivaled final. Wednesday the league she built with Collier closed an oversubscribed Series C that values the 3-on-3 at $650 million.
Six hundred and fifty million. Up from $340 million last September. The raise cleared a $100 million target and kept going. Ten Pillars Sports Fund, backed by UC Investments, led it.
The money is the standard. Not a winter side-hustle number. A player-owned league number.
Action: Minnesota Lynx / NBAE via Getty Images. 2560×1707.
Collier and Stewart founded Unrivaled in 2023 so the best players in the world could own the room they filled. Second season went eight clubs and 54 players. Sold out Xfinity Mobile Arena in Philadelphia and Barclays Center in Brooklyn. Philly set the house record and the regular-season women's pro attendance mark the league is claiming. Stewart's Mist won the title. 32 points. Championship MVP. Collier was the 2025 MVP, then sat 2026 rehabbing.
Players remain the largest shareholder group. The equity pool is close to $200 million, up more than 550 percent since the start. That is the piece the bar already understood when Stewart stepped to the line. The front office just printed it.
Season three tips in January 2027 on TNT Sports. The $650 million is how the next winter gets bigger. The title game is why the money showed up.
Do not turn $650 million into a tech headline. Hold the path. Two founders. A 3-on-3 that sold out Philly and Brooklyn. A free throw. Then a valuation that says the players still own the biggest piece.
Sources
- Unrivaled / PR Newswire, Aug. 26, 2026: Unrivaled oversubscribes Series C
- AP / ABC, Aug. 26, 2026: Unrivaled valued at $650 million
- The Athletic: Unrivaled $650 million valuation
- AP: Stewart scores 32, Mist win Unrivaled title
- Unrivaled: Napheesa Collier
- Unrivaled: Breanna Stewart
- Lynx: Collier All-WNBA First Team still
- Lynx: Collier All-Star captain still
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