Newbase

Newbase

Offers Cloud Services and Managed Services primarily to Brisbane based business and government organisations.

HQ location
Seoul, South Korea
Launch date
Employees
Enterprise value
$13—20m
Company register number
1208808376
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DateInvestorsAmountRound
investor

€0.0

round
investor

€0.0

round
investor

€0.0

round
*

KRW4.0b

Series A
Total Funding000k

Financials

Estimates*

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Revenues, earnings & profits over time
USD20222023
Revenues00000000
% growth-320 %
EBITDA00000000
Profit00000000
EV00000000
EV / revenue00.0x00.0x
EV / EBITDA00.0x00.0x
R&D budget00000000

Source: Dealroom estimates

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More about Newbase
Made with AI
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Newbase, a South Korean medical edutech company established on January 23, 2014, is addressing critical gaps in medical training through its metaverse-based platform, Medicrew. The company was founded by Park Sun-Young, who currently serves as CEO. Drawing from her background in UX design and IT planning, Park was inspired by the potential of AR technology, like the initial Google Glass, to solve complex challenges within the healthcare sector. This led to the creation of Newbase with the mission to resolve issues in medical education through improved user experience design.

The company's core business revolves around providing virtual simulation training for medical professionals, targeting clients such as hospitals, universities, and public safety organizations like fire departments. Newbase operates on a B2B model, supplying its software platform to these institutions to train their staff and students. The platform is designed to overcome the limitations of traditional medical education, such as risks to patient safety, privacy concerns, and the inability to practice repeatedly on rare or complex cases.

Medicrew, the company's flagship product, offers a virtual hospital environment accessible via VR headsets and mobile devices. This platform allows for unlimited, repeatable practice on a variety of clinical scenarios without depleting resources or endangering patients. It features AI-powered virtual patients with whom trainees can interact, assess symptoms, and make clinical decisions, observing real-time responses to their actions. The training is structured into a three-tier learning module: 'Learn skills' for core procedural training, 'Act orders' for scenario-based interventions, and 'Make decisions' for engaging with AI patients in real-time. Newbase reports high user satisfaction and notes that hospitals using the platform have seen reduced turnover rates for new nurses. The company has expanded its reach internationally, implementing its system at the Mongolian National University of Medical Sciences in 2023 through a KOICA project.

Keywords: medical simulation, virtual reality training, healthcare education, edutech, metaverse hospital, clinical skills, nursing education, AI virtual patients, surgical simulation, medical VR, Newbase, Medicrew, Park Sun-Young, digital healthcare, medical training platform, simulation-based learning, patient safety, professional development, Korean startup, healthcare innovation

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