Merit, a Los Angeles, CA-based minimalist beauty brand, raised $20m in Series A funding.
The round was led by the Growth Fund of L Catterton, with participation from Marcy Venture Partners and Sonoma Brands. Additionally, L Catterton Vice President Courtney Nelson is joining MERIT’s Board of Directors.
The company intends to use the funds to continue to grow its color cosmetics collection and expand into new categories.
Led by CEO Katherine Power, Merit is a minimalist beauty brand which launched in January 2021 with a “five-minute morning” color cosmetics assortment. Since then, the brand has experienced growth, driving an innovative direct-to-consumer strategy alongside aggressive retail expansion, including into Sephora U.S., Sephora Canada, and Sephora at Kohl’s.
FinSMEs
15/09/2021