Ustream.TV has taken $11.1 million Series A in a round that included Doll Capital Management and existing investor The Band of Angels.

Ustream.TV was in the first wave of live broadcast sites that launched in 2007 along with Justin.TV, BlogTV and Mogulus. Ustream.TV took $2 million in angel funding in December and appointed General Wesley Clark to the board. Rumors surface in January that the company was in takeover talks with Microsoft with a $50 million price tag.

Ustream.TV has grown from its original launch to become a broadcast hub for Presidential hopefuls, popular entertainers and musicians, technology industry gurus and business executives. The live broadcasting service has been complemented with a depth of tools that allows people like Chris Pirillo to build a video empire. Ustream.TV offers video conversion and download in .FLV, .WMV, .MP4 and .MOV, and users can syndicate videos created from live shows on video sites such as Blip.tv. According to Ustream.TV, their traffic has grown 325% over the last 6 months.

Ustream.TV said the funding would be used to accelerate product development and ‘meet market demand for a live online video broadcasting platform that allows people all over the world to engage in real-time.’

(Via TechCrunch.)