The South Florida Wire: Unrivaled's $650M Valuation and a Quiet Week for New Money

Issue #3 of The South Florida Wire: Unrivaled nearly doubled its valuation to $650 million on an oversubscribed Series C, a 1,300-person global engineering firm planted its new home base in Miami, and a legaltech founder's second act at eBrevia is quietly proving AI-era comebacks don't need a Series A to work. New venture rounds, though, were scarce.

This issue covers August 21 through August 28, 2026. Every item below is checked against primary reporting; if we can't source it, it doesn't run — which is why this issue is shorter than issue #2. Not every week produces a fresh crop of Series A rounds, and pretending otherwise isn't the job.

This week's rounds

One deal, but it's a real one: a Miami sports startup nearly doubling its valuation in twelve months, oversubscribed, with a roster of investors that reads like a celebrity cap table and a UC-backed sports fund leading the check.

• Unrivaled — oversubscribed its Series C past a $100M target, led by Ten Pillars Sports Fund (backed by UC Investments), with Jenny Just and returning investors Bessemer Venture Partners, Carmelo Anthony, Geno Auriemma, the Berman family, Ashton Kutcher, Alex Morgan, Trybe Ventures, Dan Rosensweig, and Trae Young all participating. The new $650M valuation nearly doubles last year's $340M Series B mark. Co-founded by WNBA stars Breanna Stewart and Napheesa Collier in 2023, the Miami-based 3-on-3 league expanded to eight clubs and 54 players in its second season, generated roughly $45M in revenue, and set a professional women's basketball attendance record with 21,490 fans at a Philadelphia game. Players hold roughly 30% equity, now worth about $200M — up more than 550% since the league's inception (Refresh Miami, PR Newswire).

Moves & openings

• Svitla Systems — the global software engineering firm, founded and led by CEO Nataliya Anon, planted a new Miami home base, reported August 26, 2026. The company runs more than 1,300 employees split across Latin America (Mexico, Costa Rica, Argentina, Colombia) and Eastern Europe (Ukraine, Poland, Romania), adds roughly 60-70 people a month company-wide, and is positioning Miami as the connective hub between its US, Latin American, and European operations — its CTO and Chief AI Officer are already based in Florida (Refresh Miami).
• eBrevia — the AI-powered legaltech company's Miami-Dade comeback took shape, reported August 24, 2026. Founder Adam Nguyen and co-founder/CTO Jacob Mundt bought the company back from Donnelley Financial Solutions in December 2023 (Donnelley had acquired it in 2018) and have since layered generative AI onto its original contract-review technology, which used machine learning to cut due-diligence review time 60-90%. The 30-person team is revenue-funded, not venture-backed, and still counts three of the Big Four accounting firms as clients (Refresh Miami).
• Iron Mountain — the 150,000-square-foot, 16-megawatt AI-ready data center it's building in Westview, an unincorporated, predominantly Black Miami-Dade community of roughly 10,000 people, drew fresh scrutiny over how it was permitted: as a "telecommunications hub" under industrial zoning rather than classified as a data center, which limited resident notice to properties within 500 feet and kept the project under the 50-megawatt threshold that triggers Florida's newer state-level data-center protections (Axios Miami).

Worth knowing

Every verified round lives in our South Florida funding tracker — the running, source-verified record of every SoFl tech round we can confirm. If you're raising down here, the Miami VC firm directory shows who's actually writing checks. The Wire returns next issue.