Briefing

The Briefing: Antitrust Bill Advances, BigTime Raises $100M, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Antitrust bill targeting Big Tech advances in Senate

The Senate Judiciary Committee voted to advance a major tech competition bill, The American Innovation and Choice Online Act.

The committee voted 16 to 6 to advance the bill, indicating bipartisan support for the measure, and the House of Representatives advanced a similar bill.

The Senate bill prohibits dominant platforms from discriminating against other businesses that rely on its services. In practice, that would mean, per CNBC, that Amazon could not simply decide to list its own private label products higher in its search ranking. The same idea would apply to results from Google’s search engine and Apple‘s app store.

— Joanna Glasner

BigTime Software lands $100M

Chicago-based BigTime Software, a provider of practice management tools for service firms to track, manage and invoice their time, announced that it raised $100 million in a growth investment from Vista Equity Partners.

— Joanna Glasner

Funding rounds

Exergyn raises $35M: Dublin-based Exergyn, a developer of waste heat recovery and conversion technology, raised $35 million in Series A funding led by Mercuria and Lacerta Partners. The company develops a component that it says can be slotted into a range of existing energy products, replacing the elements that are harmful to the environment with zero-carbon, pollutant-free alternatives.

— Joanna Glasner

Illustration: Dom Guzman

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