Ustream.tv Scores Another Round for $11.1M

Ustream.tv Scores Another Round for $11.1M

Ustreamtv tapped into more $ according to ‘always-on’ Caroline McCarthy:

There are seemingly more “livestreaming” services out there than people actually using them, but that hasn’t stopped Ustream.tv from raising $11.1 million in Series A funding. The cash comes from venture firm DCM, as well as existing investors Labrador Ventures and The Band of Angels. To be fair, Ustream has pulled away from the pack a bit: it’s the streaming service of choice for some high-profile live Web events like the Digg Town Hall.

With the new cash, Ustream will focus on product development and “meet(ing) growing market demand for an interactive-broadcasting platform.” In other words, it’s to better compete as the space grows tighter.

Adding fuel to burn the fire from their last round in December.

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