Thursday, February 5, 2009

Mall Networks appoints new CFO Chris Hemme

By Galen Moore

Mall Networks Inc. has appointed former Soundbite Communications Inc. vice president of finance Chris Hemme as chief financial officer, the Lexington-based maker of customer loyalty software applications reported.

Hemme helped take Soundbite (Nasdaq: SBDT) public in April 2007 with a $69 million IPO for the Bedford-based maker of voice, text and e-mail marketing software for businesses.

Mall Networks provides software-driven loyalty shopping programs. Its customers include financial services firms, card issuers, airline and hospitality companies, affinity organizations and loyalty programs.

The company last August raised a $7 million Series B round of venture capital funding led by new investor Dace Ventures. Flybridge Capital Partners, Venture Capital Fund of New England and LBO Enterprises returned to participate in the round. Dace Ventures partner Jon Chait has a seat on the board. Flybridge is represented by general partner Jeffrey Bussgang.