Tel Aviv-based merchant bank Orama today announced it is managing a $15 million second round of venture capital financing for

Cyber-Ark Software

, an information security company.

Orama has invested $1 million in the round and will make further investments.

Cyber-Ark closed its first round of financing in July 2000, securing $6 million from SCP, a Softbank affiliate, Nomura International Plc, and Chase Capital Partners/Seed Investments.

Cyber-Ark was founded in 1999 by a group of information security experts from the Israeli military, including Alon Cohen, president and CEO. Its management and sales offices are located in Boston, Massachusetts. The company also maintains an R&D facility in Lod, Israel, and employs 43 people.

Cyber-Ark's storage-based security solution, PrivateArk Network Vault, targets financial institutions, consulting firms, government agencies, pharmaceutical companies and other sectors needing a high level of security but also want to share data over the Internet.