Adonis recognized for achievements in improving healthcare financial outcomes and patient experiences through AI.
CB Insights today named Adonis to its 2024 Digital Health 50 — a list of the world’s 50 most promising private digital health companies, selected based on a combination of data signals and proprietary scoring.
“The 2024 Digital Health 50 cohort highlights high-momentum companies driving meaningful change across healthcare,” said Amrit Panjabi, Intelligence Analyst at CB Insights. “This year’s winners are at the forefront of bringing an AI-driven infrastructure to healthcare, transforming diagnostics, and bringing condition-specific care platforms to patients and providers. These companies are accelerating the transformation of healthcare delivery, streamlining workflows, and advancing patient outcomes globally.”
“We are thrilled to be named one of the world’s 50 most promising and innovative digital health companies,” said Akash Magoon, Co-Founder and CEO of Adonis. “2024 has been a year of tremendous growth for Adonis, marked by countless new partnerships with providers across a range of specialties, an increase headcount of the Adonis team, and our Series B fundraise in June. This has also been a year marked by significant advancements in AI, and with so many companies building AI-driven technology, we are honored to be recognized as one of the most innovative for the work we are doing to help healthcare providers collect more revenue and create improved patient experiences.”
From a pool of 10,000+ digital health startups, CB Insights analyzed companies using its proprietary metrics — Commercial Maturity and Mosaic scores — along with additional data on partnerships, funding, patents, leadership, and headcount. CB Insights supplemented this analysis with direct company submissions via Analyst Briefings.
Adonis is a revenue intelligence and automation platform, designed for healthcare, that gives healthcare providers the ability to collect the revenue that they deserve. Each year, healthcare practices and hospitals lose billions of dollars as a result of revenue cycle inefficiencies — Adonis has focused on building a proprietary model that applies ML and AI methods to address areas of revenue susceptibility and pinpoint the constantly changing root-cause issues that lead to financial loss. Adonis Intelligence, Adonis’ flagship product, maximizes recoverable revenue, boosts AR velocity, and dramatically improves workflow efficiency. Actionable alerts, real-time dashboards, claims status tracking, smart worklists, and underpayments detection give revenue cycle teams the ability to stay both strategic and responsive. Adonis raised a $31 Million Series B in June 2024, bringing the total amount raised to $54 Million since the company’s founding in 2022. Adonis works with leading providers across a range of specialties, from orthopedics, to emergency medicine, dental, behavioral health, women’s health, and more.
Quick facts on the 2024 Digital Health 50:
- $3.5B in equity funding raised over time, including more than $1.5B in 2024 so far (as of 11/14/2024)
- 72% of winners are building AI products, addressing everything from drug development to treatment selection to clinical documentation
- 56% of winners are early-stage companies (seed or Series A)
- Winners from 9 countries across the globe: the United States, Germany, Canada, Israel, South Korea, the United Kingdom, New Zealand, Belgium, and France
- 200+ business relationships since 2022, including with industry leaders like Nvidia and Kaiser Permanente
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