New Jersey Community Capital recently closed on a $3 million investment to PeopleShores, a national public benefit corporation delivering digital skills training and technology-enabled employment to under-resourced individuals.
The investment enables PeopleShores to expand its network of technology service hubs across the country, accelerating job creation and economic growth in untapped communities.
The funds represent NJCC’s commitment to deploying flexible capital to meet the unique needs of mission-driven businesses.
NJCC’s approach enabled a strategic partnership with PeopleShores that has already fueled the creation of more than 150 tech-enabled jobs with additional hiring expected as national expansion continues.
With seven hubs currently operating and more in development in cities and rural communities where they are needed most, PeopleShores is advancing a future-ready workforce focused on filling positions in high-demand sectors, including artificial intelligence, data management, cyber security and business operations.
“PeopleShores’ work is critical because it focuses on job creation through training programs that fulfill the employment needs of the businesses it serves. This not only transforms careers and communities–it transforms lives. At NJCC, we support high-impact projects that not only make a difference in untapped communities but also create the most expansive and lasting economic development possible. PeopleShores’ work fulfills every aspect of this mission,” NJCC President and CEO Bernel Hall said. “Nothing is more valuable than an employment opportunity that offers someone a pathway to a successful career and wealth creation.”
“Technology is rapidly reshaping the labor market, and too many communities risk being left behind,” PeopleShores Founder and CEO Murali Vullaganti said. “This investment from NJCC enables us to accelerate our mission and develop the workforce for tech-enabled and AI jobs that are evolving every day. It is the kind of investment that values long-term community impact.”
“So many lenders only look at things in terms of the financials, but our two organizations had complete alignment given our shared goals and our innovative way of approaching financing,” PeopleShores Finance Chief Maria Shipilov commented. “These aspects of NJCC made them incredibly creative, flexible and caring. Their top concern was always how to structure the deal so it could provide maximum benefit to our mission.”
“This investment reflects NJCC’s strategy of achieving strong, risk-adjusted returns while advancing broad-based economic opportunity,” Hall said. “By supporting initiatives like PeopleShores, we’re investing in scalable solutions that strengthen local economies and create sustainable, future-facing employment opportunities. It’s a clear demonstration of how mission-driven capital can deliver strong financial results, lasting economic development and measurable socioeconomic impact.”
