Tenrox receives $4.6 million in VC from Novacap Inc

Tenrox Inc has received $4.6 million from Novacap Inc, a Longueuil PQ-based private equity and venture capital firm to further develop its Microsoft-based software for the tracking and accounting of business projects and processes. In 2003, Tenrox overhauled its product offering, moving from client-server to web-based applications. At that time, Tenrox moved its corporate headquarters to Pasadena CA but retains its Canadian HQ and R&D operations in Montreal. It was formed in 1995 by Rudolf Melik and three classmates from McGill Univ’s software engineering program....