Enthea, a provider of psychedelic healthcare insurance plans, declared that it will expand its services into 40 markets across the US in 2023 with the goal of making workplace benefits for psychedelic-assisted therapies reasonable, equitable, and available.

Entea raised $2 million in a seed round, with Tabula Rasa Ventures as the round's lead investor, to help with the implementation and expand its provider network.

Enthea will provide money to companies by enabling them to integrate these innovative treatments in their family and employee health insurance plans. While ketamine-assisted therapy is already covered by insurance, MDMA and psilocybin-assisted therapies will be added after FDA approval, which is anticipated in the next one to two years.

“From our perspective, Enthea could be the most impactful organization the psychedelic therapeutics sector has seen to date. No other company is taking such an innovative approach using market forces to increase access to psychedelic therapies. We see the long-term financial benefits this can have on our healthcare system,” said Marik Hazan, Tabula Rasa managing partner and founder.