Ustream.tv said 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 company intends to use the funds to accelerate product development and meet growing market demand for an interactive, broadcasting platform.

Ustream has registered already 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. The site also signed some successful partnerships with tech giants like Bebo, Veoh, Digg, Meebo and Sun Microsystems.

“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.tv was launched as a public beta in March 2007 and it has 2.2 million unique viewers per month and  8,000-10,000 broadcasts per day.