Runway Growth Capital Provides a $20 Million Growth Loan Commitment to Swing Education
Runway Growth Capital (NASDAQ:RWAY) has announced a $20 million growth loan commitment to Swing Education, comprising a first lien term loan and a revolving credit line. Swing Education, founded in 2015, operates an online marketplace connecting schools with qualified substitute teachers across multiple states including California, Arizona, Texas, Illinois, New York, New Jersey, and Washington, D.C.
The funding aims to support Swing Education's nationwide expansion and address the critical shortage of substitute teachers in K-12 education. The company streamlines substitute teacher hiring and placement processes through technology and support services. The financing structure, including both a first lien and revolver, was designed to accommodate the seasonal nature of the education sector.
Runway Growth Capital (NASDAQ:RWAY) ha annunciato un impegno di prestito per la crescita di 20 milioni di dollari a favore di Swing Education, che comprende un prestito a termine con primo privilegio e una linea di credito revolving. Fondata nel 2015, Swing Education gestisce un mercato online che collega scuole con insegnanti supplenti qualificati in diversi stati, tra cui California, Arizona, Texas, Illinois, New York, New Jersey e Washington, D.C.
Il finanziamento ha l'obiettivo di sostenere l'espansione nazionale di Swing Education e di affrontare la grave carenza di insegnanti supplenti nell'istruzione K-12. L'azienda semplifica i processi di assunzione e assegnazione degli insegnanti supplenti attraverso tecnologia e servizi di supporto. La struttura del finanziamento, che include sia un prestito a primo privilegio sia una linea revolving, è stata progettata per adattarsi alla natura stagionale del settore educativo.
Runway Growth Capital (NASDAQ:RWAY) ha anunciado un compromiso de préstamo para crecimiento de 20 millones de dólares a Swing Education, que incluye un préstamo a plazo con primer gravamen y una línea de crédito revolvente. Fundada en 2015, Swing Education opera un mercado en línea que conecta escuelas con maestros sustitutos calificados en varios estados, incluyendo California, Arizona, Texas, Illinois, Nueva York, Nueva Jersey y Washington, D.C.
El financiamiento tiene como objetivo apoyar la expansión nacional de Swing Education y abordar la crítica escasez de maestros sustitutos en la educación K-12. La compañía agiliza los procesos de contratación y asignación de maestros sustitutos mediante tecnología y servicios de apoyo. La estructura del financiamiento, que incluye tanto un primer gravamen como una línea revolvente, fue diseñada para adaptarse a la naturaleza estacional del sector educativo.
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이번 자금 조달은 Swing Education� 전국� 확장� 지원하� K-12 교육에서 심각� 대� 교사 부� 문제� 해결하는 � 목적� 있습니다. � 회사� 기술� 지� 서비스를 통해 대� 교사 채용 � 배치 과정� 간소화합니다. 선순� 대출과 회전 신용 한도� 포함� 금융 구조� 교육 부문의 계절� 특성� 맞게 설계되었습니�.
Runway Growth Capital (NASDAQ:RWAY) a annoncé un engagement de prêt de croissance de 20 millions de dollars en faveur de Swing Education, comprenant un prêt à terme avec privilège de premier rang et une ligne de crédit renouvelable. Fondée en 2015, Swing Education exploite une place de marché en ligne mettant en relation des écoles avec des enseignants suppléants qualifiés dans plusieurs États, notamment en Californie, en Arizona, au Texas, en Illinois, à New York, au New Jersey et à Washington, D.C.
Ce financement vise à soutenir l'expansion nationale de Swing Education et à répondre à la pénurie critique d'enseignants suppléants dans l'enseignement K-12. L'entreprise simplifie les processus d'embauche et de placement des enseignants suppléants grâce à la technologie et aux services de soutien. La structure du financement, incluant à la fois un prêt avec privilège de premier rang et une ligne renouvelable, a été conçue pour s'adapter à la nature saisonnière du secteur éducatif.
Runway Growth Capital (NASDAQ:RWAY) hat eine Wachstumskreditverpflichtung in Höhe von 20 Millionen US-Dollar für Swing Education angekündigt, die ein vorrangiges Terminkreditdarlehen und eine revolvierende Kreditlinie umfasst. Swing Education, gegründet im Jahr 2015, betreibt einen Online-Marktplatz, der Schulen mit qualifizierten Vertretungslehrern in mehreren Bundesstaaten wie Kalifornien, Arizona, Texas, Illinois, New York, New Jersey und Washington, D.C. verbindet.
Die Finanzierung soll die landesweite Expansion von Swing Education unterstützen und den kritischen Mangel an Vertretungslehrern im K-12-Bildungsbereich bekämpfen. Das Unternehmen optimiert die Einstellung und Vermittlung von Vertretungslehrern durch Technologie und Unterstützungsdienste. Die Finanzierungsstruktur, die sowohl ein vorrangiges Darlehen als auch eine revolvierende Kreditlinie umfasst, wurde entwickelt, um der saisonalen Natur des Bildungssektors gerecht zu werden.
- Strategic $20 million loan commitment demonstrates confidence in Swing Education's business model
- Flexible financing structure with first lien and revolving credit line accommodates seasonal business needs
- Expansion opportunity into multiple major U.S. markets
- Non-dilutive capital preserves equity for existing shareholders
- Additional debt obligation could impact future financial flexibility
- Exposure to seasonal fluctuations in the education sector
Insights
Runway Growth Capital's $20M loan to Swing Education strengthens its lending portfolio in the high-growth education technology sector.
Runway Growth Capital (RWAY) has expanded its loan portfolio with a
The deal structure reveals careful consideration of Swing Education's business model and cash flow patterns. By combining a term loan with a revolving credit facility, Runway has designed a flexible financing solution that accommodates the seasonal fluctuations inherent to the education sector, demonstrating sophisticated sector-specific underwriting.
For Runway's portfolio, this transaction represents a strategic expansion into the education technology vertical while maintaining its focus on growth-stage companies seeking alternatives to equity dilution. The first lien position secures Runway's investment with priority claim on Swing Education's assets, balancing risk with the growth opportunity.
Swing Education's geographic footprint across multiple states (California, Arizona, Texas, Illinois, New York, New Jersey, and Washington, D.C.) indicates the company has already achieved significant scale since its 2015 founding, suggesting Runway is backing a proven business model with established market validation rather than an early-stage concept.
This transaction aligns with Runway's stated investment thesis of providing non-dilutive capital to growth companies with clear expansion trajectories, potentially generating predictable interest income for Runway while supporting a company addressing a persistent market need in education.
Funding will support Swing Education's nationwide expansion and help meet continued demand for qualified substitute teachers.
Founded in 2015 and based in the
"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
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
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.
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SOURCE Runway Growth Capital LLC