Swing Education
“Can a technology-driven substitute staffing marketplace become the operating system for K-12 absence management across the United States?”
Founded2015
HQSan Mateo, California, USA
FoundersMike Teng, Asha Choksi
Total raised$53M+ (equity) + $20M growth loan
Latest roundSeries C, 2023
IndustryMarketplace / Gig economy
The story
Founded in 2015 as a technology-driven on-demand marketplace for substitute teachers in California, Swing Education expanded progressively to seven states and Washington D.C. The company evolved from a simple marketplace into a full-service staffing platform with budget management, dynamic pricing, overnight absence monitoring, and quality scoring. In 2024 it launched AI-powered tooling (SubPlan.ai) for subs, and in 2025 shifted to a growth-loan financing model (Runway Growth Capital) rather than further equity dilution, signaling a move toward profitability-focused scaling.
Last 12 months
Product timeline
2015
Founded as an on-demand marketplace connecting substitute teachers with K-12 schools in California.· pivot
2018
Raised $15M Series B led by GV and Owl Ventures; reached 70,000 classrooms served across the US.· banking
2023
Raised $38M Series C led by Apax Partners and Reach Capital to accelerate national expansion.· banking
2024
Launched SubPlan.ai, an AI-powered lesson plan generator for substitute teachers.· pivot
2025
Secured $20M growth loan commitment from Runway Growth Capital (term loan + revolving credit line) to support nationwide expansion.· lending
The stack
4 layers disclosed in Swing Education’s embedded-finance stack
Lending
Runway Growth CapitalTerm loanRevolving credit line
Payroll
in the full report
Insurance
in the full report
Unified APIs
in the full report
Accounting gap: significant
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.