Adonis secures $40m to expand AI-driven RCM solutions

New York-based RCM orchestration platform Adonis has secured $40m in a Series C funding round led by Quadrille Capital, with continued participation from General Catalyst and Bling Capital.

The latest raise brings the company’s total funding to more than $95m since its founding in 2022, following a year of accelerated growth. In 2025, Adonis reported more than fourfold revenue expansion and net retention exceeding 130%, signalling increased demand for technology addressing inefficiencies in healthcare revenue operations.

Adonis provides an AI-powered platform designed to streamline revenue cycle management (RCM) for healthcare providers. Its system integrates AI intelligence with autonomous agent capabilities to monitor revenue cycle activity, identify bottlenecks, and recommend or execute corrective actions. The platform aims to improve claims processing and reimbursement outcomes while reducing administrative overhead for healthcare staff.

The funding comes amid growing structural challenges in the US healthcare reimbursement landscape. Policy changes, including the passage of the One Big Beautiful Bill, have reshaped Medicaid and Affordable Care Act subsidy dynamics, contributing to a rise in uninsured and self-pay patients. These shifts have compounded complexity for providers already contending with increasing claim denial rates and evolving payer requirements.

Against this backdrop, AI-led automation is emerging as a critical lever for healthcare organisations seeking to stabilise cash flows and manage operational strain. Platforms such as Adonis are positioned to support providers in navigating fragmented payer systems and improving revenue predictability.

The company plans to deploy the new capital to expand product capabilities across its intelligence, AI agents and orchestration layers, deepen its presence within health systems, and scale its workforce.

Akash Magoon, CEO and co-founder Adonis, said the investment reflects growing recognition of systemic inefficiencies in RCM. “The pressure on healthcare organisations is only intensifying. This funding signals that investors are backing solutions that address the structural problems holding RCM teams back, including workforce shortages, denials, and underpayments,” he said. “Our mission has always been to restore sanity to RCM, and this investment allows us to accelerate the technology RCM teams need to solve these challenges autonomously and at scale.”