Runway Growth Capital Provides a $20 Million Growth Loan Commitment to Swing Education

Funding will support Swing Education's nationwide expansion and help meet continued demand for qualified substitute teachers.

MENLO PARK, Calif., Aug. 7, 2025 /PRNewswire/ -- Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced a $20 million commitment to Swing Education, a leading online marketplace that connects schools with qualified substitute teachers. The commitment is comprised of a first lien term loan and a revolving credit line.

Founded in 2015 and based in the San Francisco Bay Area, Swing Education partners with school districts across California, Arizona, Texas, Illinois, New York, New Jersey, and Washington, D.C. By streamlining the substitute teacher hiring and placement processes through technology and support services, Swing addresses one of the most urgent challenges in K–12 education: the acute shortage of substitute teachers.

"Swing Education plays a critical role in addressing the persistent shortage of classroom educators by making it easier for schools to connect with high-quality substitute teachers," said Greg Greifeld, Chief Investment Officer at Runway. "We're proud to support a company that is not only scaling quickly but also delivering real impact across the education system. We worked hard to provide them with a flexible financing solution, via a first lien and a revolver, to ensure they have access to capital when needed, given the seasonal nature of the education sector."

"This new investment from Runway Growth Capital comes at a pivotal moment for Swing as we continue expanding our reach to address nationwide teacher shortages," said Asha Visweswaran, CEO of Swing Education. "We appreciate Runway's support and confidence in our mission to ensure every classroom has a teacher and every student gets the opportunity to learn."

Runway's investment reflects its dedication to help growth-stage companies achieve their objectives through non-dilutive capital that aligns with long-term strategic goals.

About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of a target of $20 million to $150 million to fast-growing companies based in the United States and Canada. For more information, visit www.runwaygrowth.com.

About Swing Education
Swing Education is an online staffing marketplace that connects substitute teachers with schools. Founded in 2015 by former K-12 educators and administrators, Swing makes it easier for schools and districts to find reliable, qualified substitute teachers when they need them most. With millions of absence days filled to date, Swing is dedicated to improving the experience of finding substitute teachers, becoming a sub, and keeping student learning on track. Swing serves thousands of school districts across California, Arizona, Illinois, Texas, New Jersey, New York, and Washington D.C. To learn more about Swing Education, visit www.SwingEducation.com.

Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission made by Runway and Runway's affiliated funds. Neither Runway nor Runway's affiliated funds undertake a duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE Runway Growth Capital LLC