Video Calling App Company Tango Raises $8.7 Million

Tango is a video-calling application company that has raised $8.7 million in funding out of a $10 million planned round. The Tango application lets tablet and smartphone users make video calls, similar to the FaceTime application on the iPhone 4. Tango uses P2P technology for video calling. The company has previously raised $5 million in funding from several angel investors. [VentureBeat]