Swing Education, an online staffing marketplace that connects substitute teachers with schools, announced that it has raised $38M in its Series C Funding. The round was led by funds advised by Apax Partners LLP (“Apax”), a leading global private equity advisory firm, and by edtech investment firm Reach Capital. The San Francisco-based company will utilize the Capital to grow the pool of qualified substitute teachers and school district partners across the areas in which it currently operates, including California, Arizona, Texas, Illinois, New York, New Jersey, and Washington, D.C., as well as to expand to new regions in 2024.
Founded in 2015 by Mike Teng, Oz Feng, and Asha Visweswaran, Swing Education aims to connect reliable, high-quality substitute teachers with the schools and students that need them. The startup believes in the power of technology to improve how people work together and address challenging human problems – like classroom vacancies caused by the teacher shortage. Since its inception, the platform has worked to enhance the experience of being a substitute teacher and made it easier for K-12 schools to grow and manage their substitute teacher pools.
Speaking about the Capital raised, Co-founder & CEO of Swing Education, Mike Teng, said:
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.
Swing Education currently works with over 2,800 school partners and, in the 2022-23 school year, has supported these schools in filling over one million instructional hours with substitute teachers.
David Su, Partner, Apax Global Impact, added:
Swing Education is a truly impactful business, bringing much-needed digitalization to the substitute teacher staffing marketplace and making matching talent with schools easier and more efficient. We’re incredibly excited to partner with Mike and the broader team to help grow the business and execute our joint vision for the company.
Steve Kupfer, Venture Partner of Reach Capital, commented:
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 growth stage.
In 2018, Swing Education raised $15 million in a Series B fundraise co-led by Owl Ventures and GV (formerly Google Ventures). The startup’s existing investors, Social Capital, Kapor Capital, Moment Ventures, Ulu Ventures, Edovate Capital and Redhouse Education, also participated in this round.
