UStream.TV, a Los Altos, Calif.-based provider of an interactive video broadcast platform, has raised $11.1 million in Series A funding. DCM Capital led the round, and was joined by seed backer Band of Angels.
Ustream.TV (www.ustream.tv), the leading internet broadcasting platform, today announced it has secured $11.1 million in Series A funding from leading venture capital firm DCM and existing investors, Labrador Ventures and The Band of Angels. The funding will enable Ustream to accelerate product development and meet growing market demand for an interactive, broadcasting platform.
“A few years ago, it was unimaginable to have interactive broadcasting on the scale that Ustream delivers today. This marks a major shift of online entertainment and it reflects a new desire to interact and be a part of the show, rather than to just consume it,” said Gen Isayama of DCM. “Investing in Ustream was a decision based on the company's technology, pioneering vision, and track record for consistently delivering enhancements that are attracting broadcasters and engaging millions of viewers.”
“Live, interactive broadcasting is an emerging form of media on the Web. Ustream is bridging the gap between the content creator and the audience by allowing the audience to interact and be a part of the show — a clear evolution from the traditional mode of passive content consumption. This financing will allow us to accelerate our current trajectory. We are excited to be working with DCM toward that vision,” said John Ham, Ustream's Chairman and Founder.
Ustream's easy-to-use, reliable and scalable broadcasting platform has experienced remarkable adoption in one year since its beta launch. The open platform has already registered over 260,000 broadcasters, including Presidential candidates Barack Obama and John McCain, entertainers Johnny Knoxville and Chris Brown, as well as technology and business leaders broadcasting a wide range of interactive events. Successful partnerships with Bebo, Veoh, Digg, Meebo, Sun Microsystems and the Republican National Convention have both validated and expanded Ustream's success in online broadcasting.
“Our users and partners, whether broadcasting to ten or hundreds of thousands of viewers, trust Ustream's world class infrastructure for their prized content and events. On our part, we've been amazed by the sheer range of successful content our creators have broadcasted employing the Ustream platform. This funding will enable us to build out the infrastructure to support more partners, bigger partners, more users, and an unlimited audience,” says Brad Hunstable, Founder of Ustream.
Ustream Growth Metrics
Since launching its public Beta in March 2007, Ustream has experienced exponential growth. In only a year since its launch, Ustream has generated:
* 260,000+ broadcasters
* Over 2.2 million unique viewers per month