Online Video App Supplier Origin Digital Closes First Round With $5.5 Million From Bear Stearns

Broadband video applications provider Origin Digital has secured $5.5 million in first round funding from Bear Stearns’ venture capital fund Constellation Ventures II, according to Alarm Clock. The Weehawken, NJ-based company hopes to expand its array of solutions and widen its global reach for the online video services market. The company was founded ten years ago as Live Online. It was acquired by Digital Island in 2000. The company’s assets, employees and intellectual property have gone through a series of owners and joint ventures, including Digital Island, Exodus, Cable and Wireless and, most recently, content distribution solutions manager Savvis. Origin, now privately held, is led by former Savvis exec Darcy Lorincz. Bear Stearns’ Cliff Friedman is its chairman. More details in the release.