We construct and study a class of algebras associated to generalized layered graphs, i.e. directed graphs with a ranking function on their vertices and edges. Each finite directed acyclic graph admits a structure of a generalized layered graph. We construct linear bases in such algebras, compute their Hilbert series, and discuss their Koszulity and other properties. Our interest to generalized layered graphs and algebras associated to those graphs is motivated by their relations to factorizations of polynomials over noncommutative rings.