Roslyn, N.Y. - Fifth Generation Systems, the parent company of social networking site Zude, announced this week that it has raised $5.3 million in its second round of venture capital financing.

Investors included Irwin Lieber and Barry Rubenstein of Wheatley Partners, Persistency Capital, Gund Investment and Bergstein LLC.

New York-based Fifth Generation says its Zude social computing platform offers users more freedom and creativity than competitors, including drag-and-drop technology that lets them build Web pages and place video, pictures and text anywhere.

The company said it will use the funds for growth and expansion.

Related Links:
http://www.5g.com/press/pr_SeriesB.htm

http://www.zude.com