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.