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M7 bags $9.5 million

M7 has raised $9.5 million in its first round of venture financing, the software development tools company said this week. Highland Capital Partners and Redpoint Ventures led the round, with further investments from CIR Ventures and Genevest. M7, founded in 1999, makes software tools for creating and maintaining Web applications written in the Java programming language. The Palo Alto, Calif., start-up released its first product in March and counts General Electric as a customer.