Tender Armor, a global fraud prevention payments technology provider, has announced the closing of a multi-million-dollar Series A investment led by private investors Aubrey Strul and Barry Beck, with additional funding through Strul Logistics and Technology LLC, according to a press release.

Fort Lauderdale, Florida-based Tender Armor said the Series A round enables Tender Armor to drive new business and product innovation, expand its workforce, and meet increasing demand by financial institutions for its multi-patent-pending CVV+ product.

Tender Armor said the CVV+ product addresses the growing threat of card-not-present fraud and the consumer worries it creates. CVV+ works to prevent fraud from occurring before it happens, unlike other solutions that don’t detect fraud until the transaction is being processed, according to the release.

"Three years ago, the market void in fraud prevention solutions was evident as it still is today. We set out to create a highly effective payment fraud prevention tool that deputizes cardholders to protect them from fraudsters," Madeline K. Aufseeser, CEO of Tender Armor, said in the release. "This Series A investment validates our CVV+ technology, go-to-market strategy, and competitive edge in the payment card fraud prevention arena."