Merit has received 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.
The investment will accelerate Merit's rapid expansion into an omnichannel, cross-category beauty brand.
Merit launched as a minimalist beauty line in January 2021 with a "five-minute morning" color cosmetics assortment. The brand has since expanded into Sephora U.S., Sephora Canada and Sephora at Kohl's.
L Catterton vice president Courtney Nelson will be joining Merit's board of directors.
Merit CEO Katherine Power said: "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. 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."