Adonis

Adonis is a healthcare technology company that provides an AI orchestration platform for revenue cycle management (RCM), sold to provider groups and health systems. The platform combines two main product lines — an Intelligence product and AI Agents — which monitor revenue cycle activity, detect issues such as denials and underpayments, identify root causes, recommend tailored actions and autonomously progress claims toward resolution. The software analyzes provider billing data to determine why payers deny or underpay claims and can automatically perform tasks such as researching denials and preparing appeals so providers can recover owed revenue.

The company positions its stack as spanning Intelligence, AI Agents and Orchestration, with a human-in-the-loop design intended to give CIOs and CFOs governance and accountability over AI adoption. Its models learn from large volumes of claims data with the stated aim of improving collections, reducing rework and easing workload on revenue cycle staff. Adonis frames its market context around rising denial rates, shifting payer policies, workforce shortages in RCM, and US policy changes — including the One Big Beautiful Bill — that altered Medicaid and ACA subsidies and increased the share of uninsured and self-pay patients.

Founding story

Adonis was founded in 2022 by brothers Akash Magoon (co-founder and CEO) and Aman Magoon (co-founder and Chief Product Officer). It is the second health technology company the pair started, following Nayya, founded in 2019, which sells open-enrollment software to payers. According to Akash Magoon, working closely with payers showed the brothers how heavily insurers were investing in AI to deny claims quickly, and Adonis was created to apply comparable capabilities on behalf of providers. Company materials also describe the CEO's interest in RCM originating with the administrative complications he encountered after a basketball injury in New York City.

Business model

Adonis sells its RCM software platform to healthcare providers, including physician groups and health systems, which deploy its Intelligence and AI Agent products against their billing and claims operations.

Revenue comes from healthcare providers using its RCM platform; the company reported more than fourfold revenue growth in 2025 and net retention above 130%.

Traction

The company reported more than 4x revenue growth in 2025 and net revenue retention above 130%. Named customers include Mount Sinai Health System, Baptist Health South Florida, AdventHealth and ApolloMD. A 2025 deployment of agentic AI with ApolloMD was reported to achieve a 90% success rate in autonomous issue resolution. Mount Sinai's system vice president of RCM described redeploying staff to higher-value work, accelerated cash flow and increased collections.

Latest developments

In March 2026 Adonis announced a $40 million Series C led by Quadrille Capital with continued participation from General Catalyst and Bling Capital, bringing total funding to more than $95 million since 2022. Proceeds are earmarked for product development across the Intelligence, AI Agents and Orchestration platform, deeper penetration of the health system market and team growth. The company also expanded its executive team with a chief product officer and chief revenue officer, made its platform available in Epic Connection Hub, and was named to the 2026 New York Digital Health 100 and The Agentic List 2026.