Fifth Generation, best known as the software provider that created Zude, today announced that it has raised $5.3 million in a Series B financing. Investors participated in this round include Irwin Lieber and Barry Rubenstein of Wheatley Partners, Persistency Capital, and Gund Investment, LLC., with additional funding by Bergstein, LLC. Fifth Generation will use this new round of financing to accelerate product development and expand its user base in Zude. On top of that, Fifth Generation has raised $5 million in round A at the time Zude’s private beta roll-out in last May, that makes the total amount raised by Fifth Generation to over $10 million.

Many are saying that Zude is a social networking site that represented the Web of the future. It offer a uniquely drag and drop features that help users in creating their own personal Web pages. Zude’s Web-based applications primarily use an advanced technologies to render its “what you see is what you get” (WYSIWYG) functionality. The buzz generated by Zude is illustrative of trend that users no longer want to design their Web pages from scratch, more and more this type of Web 2.0 will likely to be found on the Web in 12 to 24 months. Imagine one can design her Web page by simply just drag and drop an object to the page and no template or any code to be written, this type of Web 2.0 sites potentially attract the funding from the venture capital firms.