Live-video service gets $11.1 million

Existing investors Labrador Ventures and The Band of Angels team up with the DCM venture capital firm to bring in the start-up's Series A round.

There are seemingly more "livestreaming" services out there than people actually using them, but that hasn't stopped 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.

New rivals such as Qik have more streamlined mobile capabilities built in, and big tech companies such as Yahoo have started introducing their own in-house streaming rivals.

Featured Video
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

Details about Apple's 'spaceship' campus from the drone pilot who flies over it

MyithZ has one of the most popular aerial photography channels on YouTube. With the exception of revealing his identity, he is an open book as he shares with CNET's Brian Tong the drone hardware he uses to capture flyover shots of the construction of Apple's new campus, which looks remarkably like an alien craft.

by Brian Tong