Tungle Lands $1.5M in Venture Capital

Montreal-based Tungle, which bills itself as the “world’s first peer-to-peer meeting coordinator, has landed $1.5-million of venture capital from JLA Ventures and Desjardin Venture Capital, as well as angel money from Alex Karakozoff. The point of pain that Tungle is trying to resolve is the frustration of trying to arrange a meeting with people without knowing whether they are available. Anyone who has tried to arrange a conference call or meeting knows this challenge first-hand. Here’s how Tungle describes how the services work:

Like many Web 2.0 start-ups, Tungle has embraced the free-mium model with a free version offering basic features, and a premium version that it will sell for an annual subscription fee. Tungle, which was founded by Marc Gingras, a former venture capitalist, was launched its meeting coordinator beta at the Under the Radar conference earlier this year. For coverage of the launch, check out Tag Edge. As well, Michael Sampson provides a nice overview of Tungle’s features.