Mall Networks names Zeemote vet Cambray as CFO

By Mass High Tech staff

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Mall Networks Inc., the Lexington-based developer of software-driven loyalty shopping programs, has appointed Karen Cambray as its new chief financial officer, where she will lead the company’s finance, legal and administrative functions.

Cambray joins Mall Networks after a year serving as CFO of Chelmsford mobile remote control developer Zeemote Inc. Prior to Zeemote, she oversaw the raising of $21.5 million in equity and debt financing at Groove Mobile, as well as the company’s $14.5 million sale to LiveWire Mobile Inc., a subsidiary of Framingham-based NMS Communications Corp., in the spring of 2008. Cambray also held senior financial roles at Internet marketing firm Be Free Inc., online information service provider Internet Securities, Millipore Corp. and Arthur Andersen.

Mall Networks’ customers include financial services firms, card issuers, airline and hospitality companies, affinity organizations and loyalty programs. The company raised a $7 million Series B round of venture capital funding led by Dace Ventures, along with backing by Flybridge Capital Partners, Venture Capital Fund of New England and LBO Enterprises.

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