Swing Education, an online marketplace that connects schools with substitute teachers, has announced $38 million in Series C funding. The funding round was led by Apax Partners LLP and Reach Capital, highlighting the urgency to address the nationwide substitute teacher shortage. This latest investment will enable Swing Education to further invest in its growth and expand its impact by placing more substitute teachers in classrooms.
Since its inception in 2015, Swing Education has been committed to improving the substitute teaching experience and assisting K-12 schools in managing their substitute teacher pools. The company’s mission is to ensure that every classroom has a teacher and every student can learn without disruption. Swing currently partners with over 2,800 schools and has filled over one million instructional hours with substitute teachers during the 2022-23 school year.
The shortage of teachers is a persistent challenge for school administrators, with 45% of public schools starting the 2022-2023 academic year without a full teaching staff. Recognizing the need for substitute teachers, Swing aims to enhance processes and invest in programs and tools that support substitute well-being, ultimately attracting more individuals to the profession. By combining dedicated success teams and a comprehensive technology platform, Swing seeks to provide substitutes with a better experience.
Mike Teng, CEO of Swing Education, expressed his excitement about the funding, acknowledging the acute need for substitute teachers and the strain on schools. He emphasized that the investment positions Swing to expand its impact and connect even more substitute teachers with classrooms in need.
Apax Partners and Reach Capital, the strategic investors leading the funding round, expressed their confidence in Swing Education’s transformative business model and its ability to digitize the substitute teacher staffing marketplace. They are excited to support Swing’s growth and work towards their shared vision for the company.
Swing Education currently operates in several states, including California, Arizona, Texas, Illinois, New York, New Jersey, and Washington, D.C. With the new funding, the company plans to grow its substitute and school partner networks in these regions. Expansion to new regions is also on the horizon for Swing Education in 2024.