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Runway Growth Capital invests $20M in Swing Education to support national expansion and staffing.
Runway Growth Capital has committed $20 million to Swing Education, a U.S.-based education technology firm that finds qualified substitute teachers for schools. A revolving credit facility and a first lien term loan are included in the venture, providing a flexible financing structure that addresses the education sector's seasonality. Founded in 2015 and based in the San Francisco Bay Area, Swing Education is an online platform that helps schools in California, Texas, New York and other states recruit competent substitute teachers.
The organization aims to lessen the teacher shortage by speeding hiring and placement via the use of digital technologies and support services. Swing Education will be able to continue addressing the ongoing lack of substitute teachers in K–12 education and serve more individuals across the country with this sponsorship. According to the company's CEO, Asha Visweswaran, the funding comes at a good time because of the increasing need for classroom coverage.
Greg Greifeld, Chief Investment Officer of Runway, highlighted Swing's impact and scalability. According to him, the investment is in line with Runway's plan to provide non-dilutive capital funding that doesn't necessitate giving up ownership to rapidly expanding companies. By combining a credit line and term loan, Swing can maintain equity while having access to money when needed.
The deal strengthens Runway's portfolio in the education technology sector, which is in high demand because of persistent staffing and educational delivery issues. The action is part of a larger trend in which growth-stage businesses are using structured financing rather than equity to finance expansion while keeping control. This transaction shows how important flexible funding solutions are for driven by purpose businesses tackling pressing issues in vital industries like education.
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