Fifth Generation Systems Raises $5.3 Million

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Fifth Generation Systems, Inc., a Rosalind, NY-based web company, has raised $5.3 million in Series B financing. Among those investing are Irwin Lieber and Barry Rubenstein of Wheatley Partners, Persistency Capital, and Gund Investment, LLC, with Bergstein, LLC provided additional funding.

In a statement released today the company said they'd put the money towards accelerating product development and expanding user base. By that they mean making Zude, their social networking site, viable. Punching Zude's name into Compete reveals that there were less than 5,000 people visiting the site in December.


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Arthur said:
Congratulation to Zude but really I do not get this. There are services much more designed, useful and powerful as Wixi http://www.wixi.com or Jooce http://www.jooce.com… Zude will maybe join the list of popular services I dont get: Multiply, eSnip…
Also, look at this: http://siteanalytics.compete.com/jooce.com+zude.com+wixi.com/?metric=uv

Anyway, good luck to all these companies!

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