Merit, the minimalist beauty brand led by CEO Katherine Power, secured a $20 million Series A funding round led by the Growth Fund of L Catterton.

WHO: Led by CEO Katherine Power, Merit is the antidote to the oversaturated world of beauty. The brand launched as a minimalist beauty line in January 2021 with a "five-minute morning" color cosmetics assortment. Since then, the brand has experienced exponential growth, driving an innovative direct-to-consumer strategy alongside aggressive retail expansion. By taking a holistic approach to responsible luxury, Merit creates products that are safe for the body, skin, and planet.

WHY: The transaction underscores strong investor confidence in Merit’s success and consumer interest in simplifying beauty routines. The investment will accelerate Merit’s rapid expansion into an omnichannel, cross-category beauty brand.

IN THEIR OWN WORDS: "Our customer is a discerning individual who is selective about the brands and products they welcome into their life. At MERIT, we aim to serve our consumer in many aspects of their beauty and self-care routines," says MERIT founder and CEO Katherine Power. "Our team is looking forward to collaborating with L Catterton and our other partners as we leverage their collective expertise scaling consumer brands to support the development of new products within and beyond clean color."

DETAILS:

• Merit secured a $20 million Series A funding round led by the Growth Fund of L Catterton; Marcy Venture Partners and Sonoma Brands also participated in the round.
• By the end of 2021 the brand will be in more than 800 brick-and-mortar doors, including Sephora US, Sephora Canada, and Sephora at Kohl's.
• L Catterton Vice President Courtney Nelson is joining Merit's Board of Directors.
• This is Power's fourth digitally native and data-informed brand serving millennial consumers. She previously founded media property Who What Wear and skincare brand Versed, and co-founded the natural wine label Avaline alongside Cameron Diaz.