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Adonis raises $31M in Series B funding led by Point72 Private Investments with participation from Kin Ventures, General Catalyst, Max Ventures, and Bling Capital

Jun 25, 2024•about 1 year ago

Amount Raised

$31 Million

Round Type

series b

New YorkHealth CareSoftwareAnalytics

Investors

Bling CapitalMax VenturesGeneral CatalystKin VenturesPoint72 Private Investments

Description

Adonis, a healthcare revenue cycle intelligence and automation company, announced it secured $31 million in Series B funding, bringing its total raise to $54 million. The company will use the funds to expand its New York-based workforce, speed up product innovation, and continue growing in the health system space.

Company Information

Company

Adonis

Location

New York, New York, United States

About

Adonis is a Revenue Intelligence and Automation Platform, built for Healthcare, solving for operational challenges that impact the integrity of revenue cycle management. On average, Healthcare providers are unable to collect 15% or more of the revenue it’s owed. This is a result of compounding fractures in traditional RCM; a series of people, processes, systems, and tools are collectively responsible for this dilemma. Powered by data science and AI technology, Adonis provides solutions to address the common issues and areas of susceptibility within RCM to create better, more reliable revenue outcomes.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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