Runway Growth Capital Invests $20 Million in Swing Education

Strategic Insights -

Runway Growth Capital, a leading provider of growth loans, has made a significant investment in Swing Education, an online marketplace that connects schools with qualified substitute teachers. This $20 million commitment will support Swing Education's nationwide expansion, addressing the acute shortage of substitute teachers in K-12 education. With the help of Runway's flexible financing solution, Swing Education will continue to scale quickly and deliver real impact across the education system.

Key Takeaways:

  • Swing Education was founded in 2015 and has since grown to partner with school districts across 8 states, including California, Arizona, Texas, Illinois, New York, New Jersey, and Washington, D.C.
  • The company's platform streamlines the substitute teacher hiring and placement process through technology and support services, addressing a critical challenge in K-12 education.
  • Runway's investment will enable Swing Education to expand its reach nationwide, addressing a persistent shortage of substitute teachers.
  • The flexible financing solution provided by Runway Growth Capital includes a first lien term loan and a revolving credit line.
  • Swing Education has filled millions of absence days to date and serves thousands of school districts across the country.

Statistics:

  • $20 million: The amount of committed investment from Runway Growth Capital to Swing Education.
  • 2015: The year Swing Education was founded.
  • 8 states: The number of states where Swing Education partners with school districts.
  • Millions of absence days: The number of absence days filled by Swing Education to date.
  • Thousands of school districts: The number of school districts served by Swing Education across the country.

Sources:

  • Runway Growth Capital LLC, "Runway Growth Capital Invests $20 Million in Swing Education"
  • Swing Education, "About Us"
  • Runway Growth Finance Corp. (Nasdaq: RWAY)