Adonis is an AI orchestration platform built for healthcare revenue cycle management, helping health systems and provider groups identify revenue cycle issues, manage insurance claims and denials, and automate workflows through its Intelligence and AI Agents products. The company was founded in 2022 by brothers Akash and Aman Magoon. Pulse 2.0 interviewed Adonis Co-Founder and CEO Akash Magoon to learn more about AI-powered revenue cycle management, autonomous agents, and the company’s growth.
Akash Magoon’s Background
When asked about his background, Magoon shared:
I’m the Co-Founder and CEO of Adonis. Before Adonis, my brother Aman and I started a company where we partnered with some of the country’s largest health insurers, which gave me a front-row view of how payers use technology to systematically deny claims and reduce what providers ultimately get paid.
That experience shaped how I think about healthcare’s financial infrastructure and why the provider side needed a serious AI counterweight.
We started Adonis to build just that.
How Adonis Started
When asked how the idea for the company came together, Magoon explained:
Years ago I got injured playing basketball. What should have been a straightforward course of treatment turned into months of fighting with my insurer over what was and wasn’t covered.
That experience stuck with me.
Insurers had been investing in sophisticated automation for years, with tools that let them deny, downcode, and delay claims at scale, while the hospitals on the receiving end were still running manual processes with overwhelmed teams.
I realized the frustration I’d felt as a patient was the same asymmetry that providers felt across the entire system. It was unfair and structurally untenable.
Aman and I founded Adonis in 2022 to put equivalent AI capabilities in the hands of providers, so health systems could finally negotiate, appeal, and collect from insurers on equal footing.
Favorite Memory
When asked about his favorite memory working for the company so far, Magoon said:
One of my favorite Adonis memories was moving into the Adonis headquarters on the 50th floor of 3 World Trade Center shortly after we raised our Series A.
At the time, we were only about 20-30 people, but we wanted to motivate the team and create a sense of ambition by moving into a much bigger space.
We used to joke that we were giving the company a size 12 shoe when we were only a size 4, but it reflected the belief we had in where the company was headed.
What has made it especially meaningful is how the space evolved beyond just an office.
We’ve turned it into a hub for RCM thought leadership, hosting events, panels, and conversations with industry leaders across healthcare and technology.
It became a physical representation of the kind of company and community we wanted to build around Adonis.
Core Products And Features
When asked about Adonis’ core products and features, Magoon detailed:
Adonis helps hospitals and doctors get paid through two core products: Intelligence and AI Agents. Intelligence tracks payer behavior and flags issues that put revenue at risk. What makes it unique is its ability to connect patterns in payer behavior to specific claims and dollars at risk, so teams know where to act. Our AI Agents automate the workflows to recover that revenue, from following up on unpaid claims to appealing denials. Together, they turn insight into action and action into payment.
Navigating A Crowded AI Market
When asked about recent challenges in the sector and how Adonis has addressed them, Magoon explained:
There is no shortage of AI tools promising to make healthcare operations run more efficiently and effectively. The challenge is not only breaking through the noise, but earning trust by demonstrating real results.
For us, that means showing health systems and provider groups where revenue is getting lost and automating the work to recover it. Our Intelligence tracks payer behavior and flags issues, while our AI Agents handle revenue recovery workflows.
We measure success by revenue recovered, denial rates reduced, and staff time saved. Those are the results that matter to our customers, and that’s how we earn their confidence.
How The Technology Has Evolved
When asked how Adonis’ technology has evolved since launching, Magoon said:
When we founded Adonis in 2022, we focused on helping providers understand where revenue was being lost and why.
Since then, we’ve expanded from identifying problems to recommending solutions and automating the work to resolve them through our AI Agents.
Today, we process tens of millions of claims across our customer base, giving our Intelligence a broader view of payer behavior and helping us identify patterns that lead to denials or delayed payments.
We started by showing providers where money was getting stuck. Now, we help them get it back.
Key Company Milestones
When asked about some of Adonis’ most significant milestones, Magoon highlighted:
A few stand out. Earlier this year, we raised a $40 million Series C, bringing our total funding to more than $95 million. We also expanded into the health system market, and added several large systems as customers.
We received our first patent for AI that unifies fragmented healthcare data, powering the insights and automation behind our platform. We’re also now listed in the Epic Showroom, making it easier for health systems using Epic to discover Adonis and explore how our technology fits into their revenue cycle workflows.
And we’ve grown our team to more than 100 people. I’m especially proud of the team and culture we’re building here in New York, and the work they’re doing to translate that growth into results for our customers.
Customer Success Stories
When asked to share specific customer success stories, Magoon said:
ApolloMD, Mount Sinai, Redefine Healthcare, and Allied Digestive Health are great examples of the providers we work with.
Our Intelligence helps teams identify payer issues and prioritize revenue at risk, while our AI Agents automate time-consuming follow-up and recovery workflows.
The impact goes beyond dollars recovered. Automating repetitive work gives skilled staff more time to resolve complex claims and address the underlying issues that cause payment delays.
Funding And Growth
When asked about funding and revenue metrics, Magoon revealed:
We achieved one of our greatest accomplishments earlier this year, closing a $40 million Series C led by Quadrille Capital with General Catalyst and Bling Capital, bringing total funding to over $95 million since 2022.
On the business side, we grew revenue more than 4x in 2025 and maintained net revenue retention above 130%, which we view as the more telling metric. It reflects not just new customer growth, but the value we’re delivering as existing customers expand their work with us.
Our growth reflects the results they’re achieving with our technology, and the increasing role Adonis is playing in their revenue cycle operations.
Total Addressable Market
When asked about the total addressable market Adonis is pursuing, Magoon explained:
The US healthcare revenue cycle management market is enormous, and we believe the opportunity for intelligent automation is still largely untapped.
Hospitals, health systems, and provider groups are undergoing significant financial and operational pressure. At the same time, rising denial rates, limited workforce capacity, and increasing complexity around Medicaid, ACA reimbursement, and other policy changes are putting even more strain on already over-taxed RCM teams.
That creates a broad and growing need for technology that can automate work, surface intelligence, and help teams do more with the resources they have. Each new layer of complexity creates an opportunity for Adonis to help healthcare organizations build and operate more efficient, resilient revenue cycles.
Competitive Differentiation
When asked what differentiates Adonis from its competition, Magoon said:
Adonis is fundamentally changing how the revenue cycle operates. Most RCM solutions are built to react, only helping teams address denials and revenue leakage after the fact.
Adonis takes a proactive approach by learning where revenue is most at risk and acting autonomously before issues compound.
Governance is equally important. Healthcare organizations need the efficiency and scale of AI without sacrificing control or accountability. That’s why we built human-in-the-loop controls into the core of our platform. We ensure COOs and CFOs have the autonomy benefits of AI, while still maintaining the visibility and oversight required to trust it with the financial integrity of their organization.
Future Goals
When discussing Adonis’ future goals, Magoon concluded:
The Series C gives us the opportunity to accelerate our vision for what Adonis can become. In the near term, we’re investing across Intelligence, AI Agents, and Orchestration, while deepening our work with large health systems and expanding the team needed to support them.
Our goal is to move RCM from a reactive, labor-intensive function to a proactive, increasingly autonomous one. We’re already seeing what that looks like with our customers, and we want to expand that impact across the revenue cycle.
The payer-provider AI arms race is just beginning, and we’re building the infrastructure providers need to compete and win.
