Adonis Raises $40M Series C to Tackle Healthcare Revenue Cycle Challenges
Adonis, an AI platform for healthcare revenue cycle management, raised $40 million in Series C funding led by Quadrille Capital. The round brings total funding to over $95 million since the company's 2022 founding.
The company reported 4x revenue growth in 2025 and net retention above 130%, signaling strong adoption among health systems and provider groups.
Why healthcare providers are buying now
Recent policy shifts have reshaped the reimbursement environment. The One Big Beautiful Bill increased the number of uninsured and self-pay patients while adding complexity to how providers get paid.
Denial rates are rising. Payer policies change frequently. Patient coverage shifts unpredictably. Revenue cycle teams are stretched thin managing these variables with tools designed for a simpler era.
Adonis addresses this by combining two products: Intelligence software that detects revenue cycle problems, and AI Agents that recommend actions and process claims toward resolution autonomously.
What the platform does
The system monitors claims for issues before they escalate. It identifies which exceptions matter most. It recommends specific resolutions and executes them without manual intervention.
Mount Sinai Health System, a customer, said the platform helped staff focus on high-impact work rather than routine exceptions. Salonia Brown, System Vice President of RCM at Mount Sinai, said the AI-driven approach "unlocks meaningful financial value" by intelligently prioritizing critical issues.
The operations angle
For operations leaders, the appeal is straightforward: revenue cycle inefficiencies typically cost providers 15% or more of potential revenue. Automation reduces rework and frees staff from repetitive tasks.
The platform includes governance features designed for CFOs and CIOs - dashboards and controls that show how AI is making decisions, rather than treating it as a black box.
Next steps for Adonis
The company plans to accelerate product development, expand its presence in health systems, and grow its New York-based team. Existing investors General Catalyst and Bling Capital also participated in the round.
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