An Inside Round for Accel; What's Next for Databricks

Venture capital firms have a lot of money to invest but relatively few maturing startups have proven their worth. So firms are doubling down on the startups they see as winners—which is sending valuations soaring, sometimes in just a few months.

The latest example: Cyera, a cloud cybersecurity firm, is finalizing a deal to raise new funding from early investor Accel, people briefed on the deal told me. It would about double Cyera’s valuation to $3 billion from $1.4 billion just seven months ago.