Bring a large pot of salted water to a boil. Boil the ravioli according to package directions.

While pasta is cooking, melt the butter and olive oil in a large skillet set over medium high heat. Add the mushrooms and onions and cook until soft and caramelized, about 8-10 minutes.

Add Madeira and bring to a boil. Cook for 4 minutes.

Stir in cream and Parmesan cheese and simmer for 5 minutes. Stir occasionally so cheese does not clump and stick to bottom of pan.

Add cooked ravioli to sauce.

Garnish with additional Parmesan cheese and thyme.