Cloud video startup Zixi has raises $4 million in a round of funding for its web video broadcasting business.

The Waltham, Mass.-based company will use the money to build out a worldwide team and complete its infrastructure for delivering high-definition video via the cloud, or web-connected data centers. The company focuses on delivering cloud video with high quality, security, and the ability to make a return on investment.

Schooner Capital, a Boston-based private investment firm, led the round. Other investors include Sidney Topol, former chief executive of Scientific Atlanta, and Maurice Schonfeld, former CEO of CNN.

Zixi’s chief executive is Israel Drori. He said the company will offer high-quality video over the internet for broadcast, enterprise and video-on-demand services. Potential customers include companies that operate networks, video-on-demand services, web broadcasts, and device makers. Zixi could be used to broadcast video such as a Netflix streaming movie to a tablet computer or a smartphone without any noticeable hiccups. Customers include CNN, Reuters, CBS Sports and Netgear.

Zixi tries to set itself apart by making the best use of available network bandwidth. It minimizes startup delay, or the seconds it takes to launch a video, and eliminates buffering (or loading video into memory to ensure smooth playback) without sacrificing quality.

A company could use Zixi to securely telecast a high-definition video conference to multiple locations around the world in real time with low infrastructure costs. Zixi was founded in 2006 and it has 11 employees. Check out Zixi’s video demo below.