Swing Education – an online marketplace that connects schools and substitute teachers – announced $38 million in Series C funding. This funding round was led by funds advised by Apax Partners LLP, a leading global private equity advisory firm, and by ed-tech investment firm Reach Capital. This funding round enables Swing Education to invest in its growth and better address the nationwide substitute teacher shortage.
Plus this funding follows a 2018 Series B funding co-led by GV (formerly Google Ventures) and Owl Ventures and a seed round from a consortium that included Social Capital, Kapor Capital, Moment Ventures, Ulu Ventures, Red House Education, and Edovate Capital.
The company believes that every classroom deserves a teacher and every student deserves to learn with minimal issues. Since being founded in 2015, Swing has worked to improve the experience of being a substitute teacher and made it easier for K-12 schools to grow and manage their substitute teacher pools. Plus Swing currently works with over 2,800 school partners and in the 2022-23 school year has supported these schools in filling over 1 million instructional hours with substitute teachers.
Teacher vacancies has become a major challenge for school administrators with 45% of public schools operating without a full teaching staff at the start of the 2022-2023 school year. And while school leaders recognize the need for substitute teachers, improving processes around substitute teaching and investing in programs and tools that support substitute well-being often go unprioritized.
Swing looks to fill this gap. And by combining dedicated success teams and a comprehensive technology platform, Swing works to ensure that substitutes are treated better, which, in turn, attracts more individuals to the profession.
Currently, Swing operates in California, Arizona, Texas, Illinois, New York, New Jersey, and Washington, D.C. and will use this latest funding round to grow its substitutes and school partners in these regions. And Swing will look to expand to new regions in 2024.
KEY QUOTES:
“We’re thrilled to have Apax Partners and Reach Capital as strategic investors. The need for substitute teachers is acute. This additional funding highlights the current strain on our schools and positions Swing to grow our impact, placing even more substitute teachers in even more classrooms.”
— Mike Teng, CEO of Swing Education
“Swing Education is a truly impactful business, bringing much needed digitalization to the substitute teacher staffing marketplace and making it easier and more efficient to match talent with schools. We’re incredibly excited to be partnering with Mike and the broader team to help grow the business and execute on our joint vision for the company.”
— David Su, Partner, Apax Global Impact
“Beyond broadening and diversifying staffing pools, Swing’s distinct marketplace model provides upskilling opportunities and unlocks innovative pathways to the teaching profession. Each of these goals aligns with our mission as education investors. We are thrilled to support the Swing team through this next stage of growth.”
— Steve Kupfer, Venture Partner at Reach Capital
“Even prior to the pandemic’s amplification, the teacher shortage in the United States profoundly impacted the K-12 education system. Under the visionary leadership of Mike and Asha, Swing Education has built a transformative way for K-12 schools and substitute teachers to connect. Their technology platform has harnessed the power of data to enable a seamless match between teacher absences and qualified substitutes as well as ensure uninterrupted student learning.”
— Amit A. Patel, Managing Director at Owl Ventures
