Core Insights - Runway Growth Capital LLC has committed $20 million to Swing Education to support its nationwide expansion and address the demand for qualified substitute teachers [1][3] - Swing Education, founded in 2015, operates as an online marketplace connecting schools with substitute teachers, addressing the acute shortage in K–12 education [2][5] - The investment from Runway is structured as a first lien term loan and a revolving credit line, providing Swing Education with flexible financing to meet seasonal capital needs [1][3] Company Overview - Swing Education partners with school districts across multiple states including California, Arizona, Texas, Illinois, New York, New Jersey, and Washington, D.C. [2][5] - The company aims to streamline the hiring and placement of substitute teachers through technology and support services, improving the overall experience for schools and educators [2][5] - Swing Education has filled millions of absence days and is dedicated to ensuring every classroom has a teacher, thereby enhancing student learning opportunities [5] Investment Context - Runway Growth Capital focuses on providing growth loans to companies seeking alternatives to equity financing, with a target loan size ranging from $20 million to $150 million [4] - The investment reflects Runway's commitment to supporting growth-stage companies with non-dilutive capital that aligns with their long-term strategic goals [3]