LiveDeal.com, the Santa Clara-based free local online classifieds network, has secured $4.85 million in second funding. The round was led by one of Canada’s major media companies, Torstar Corporation, which also took a minority stake in LiveDeal.com. Also investing in the round was VC firm Draper Richards, and individual investors from eBay, HP and the real estate industry. The funding will be used to expand LiveDeal domestically and internationally.

Torstar, which contrinbuted about $3 million, has also tied up with LiveDeal to launch a similar Canada site later this year.