A group of tech veterans -- DD Ganguly, Jayant Pandit, Saurav Mohapatra, Sundar Subramanian and Rohit Shankar – have worked on various projects, despite being in far-flung places across the globe. They did so by leveraging free technologies such as Skype to help manage things.

However, they also wanted to share screens, but couldn't find anything for it as the conferencing software was either too expensive or complicated. So, they started a new company: Dimdim.

That was in 2006 and, as of now, Dimdim is getting lots of traction. In fact, the firm has raised $6.4 million in venture capital. The investors include: Index Ventures, Nexus India Capital and Draper Richards.

Dimdim is available as downloadable open source software. There is also an on-demand version.

For the most part, Dimdim is gunning for a large market opportunity. For example, Cisco (NASDAQ: CSCO) purchased WebEx for a whopping $3.2 billion. Other major players in the space include Microsoft (NASDAQ: MSFT), Citrix (NASDAQ: CTXS) and Adobe (NASDAQ: ADBE).

So, if Dimdim can develop an enterprise-ready version and can provide it on a low-cost basis, the impact could be highly disruptive. And now, the company has some capital to give it a try.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.