Previous studies have indicated that resolution of supraordinal relationships in the red algal class Florideophyceae will require additional characters, improved taxon sampling and optimized methods of phylogenetic analysis. To this end, we have generated data to introduce a novel nuclear marker to red algal systematics, elongation factor 2, as well as expanded ribosomal DNA alignments (SSU and LSU) to include 62 ingroup and 4 outgroup taxa. Both single gene and combined data sets were considered. Our analyses resulted in better resolution of both deep as well as more recent divergences, with higher support realized at many nodes. Distance, parsimony and bayesian analyses of the single gene and combined data sets indicated that the subclasses Hildenbrandiophycidae, Ahnfeltiophycidae and Rhodymeniophycidae were monophyletic, whereas the Nemaliophycidae was polyphyletic: one lineage containing the Rhodogorgonales and Corallinales (CR complex); and the other containing the Acrochaetiales, Balbianiales, Balliales, Batrachospermales, Colaconematales, Nemaliales, Palmariales, and Thoreales (APB complex). Based on these results a new subclass of the Florideophyceae, the Corallinophycidae subclassis nov., is proposed to accommodate the Corallinales and Rhodogorgonales. In addition to resolving supraordinal relationships, the present analyses resolved some novel ordinal affinities within the Nemaliophycidae and Rhodymeniophycidae, which are discussed here.