Adonis has raised $40M in Series C funding to expand its revenue cycle platform. The company provides software specifically for revenue cycle teams within provider groups and health systems. The technology is designed to address rising claim denials and frequent changes in payer policies. It helps administrative teams identify financial risks earlier and resolve billing issues to ensure providers are paid for the care they deliver. By automating parts of the billing process, the platform aims to help healthcare organizations manage administrative workloads and navigate shifting payer requirements. Read more here: https://lnkd.in/epi7E2rv
Today we’re announcing our $40m Series C at Adonis Every week, I hear the same challenges from revenue cycle teams across provider groups and health systems: rising denials, constant payer policy shifts, and teams being asked to do more with less. It’s not sustainable, and it’s not where healthcare should be. We’re building Adonis to be a true partner to these teams. Helping them see risk earlier, resolve issues faster, and ultimately get paid for the care they deliver. I’m deeply grateful to our customers who have trusted us to be part of their journey, and to our partners and investors who believe in what we are building. A special thank you to our investors including Holly Maloney and Tyler Olkowski from General Catalyst, Amine Baji and Vianney Barre from Quadrille Capital, Benjamin Ling and Kyle Lui from Bling Capital, Matt Hellauer from PTX Capital, Ryan Darnell and Matthew Weinberg from Max Ventures, Ankeet Kansupada and Josh Porter from FirstLook Partners, Simon Chan from FirsthandVC, Tina Hoang-To from Kin Ventures, David Kleinhandler and team at The K Funds—as well as all of our existing partners for your continued conviction and support as we build Adonis for the long term. I also want to thank my cofounder and brother (Aman Magoon), our executive team (Doug Pickett, Stephanie Drazich, Nate Silver, Manoj Kintali, Katie Stansky), and the entire Adonis family. ❤️ This milestone is a reflection of your hard work, resilience, and belief in what we’re building. We have a lot of work ahead, and we’re just getting started. 🚀 Checkout the press release below to learn more about our work. Celebrity appearance from Salonia Brown from the Mount Sinai Health System leadership team: https://lnkd.in/e4HQfPBt