Monday, October 23, 2006

Mall Networks Completes Second Round of Funding - Lexington, MA

Mall Networks, a provider of online loyalty programs and e-commerce sites, announced that it has completed its second round of private equity funding. The Venture Capital Fund of New England (VCFNE) led the round with existing backers, IDG Ventures Boston and LBO Enterprises, increasing their initial investments. In conjunction with the investment, Carl Novotny, managing director at VCFNE has joined Mall Networks' board of directors. Founded in 2005, Mall Networks builds and manages "online malls" for partners such as professional sports teams, credit cards and banks, rewards programs, and membership organizations. The company's clients include the Arizona Diamondbacks, Los Angeles Dodgers, and NASCAR RacePoints.


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