With all the buzz about energy efficiency these days, it’s not surprising that a startup focused on the “demand response” market has pulled in another round of financing.

New York-based CPower, formerly known as Consumer Powerline, announced Tuesday that it raised a $10.68 million second round of funding led by Mayfield Fund.

CPower will use the funding to broaden its customer base and continue development of its technology. The bulk of the company’s business is in the demand response market. CPower finds commercial, industrial, and institutional customers who are willing to reduce their energy usage during periods of peak demand, grid emergencies, or skyrocketing wholesale electricity prices and then sells that unused power back to utilities or systems operators. CPower has over 800 megawatts of electricity under contract, according to CEO Gary Fromer.

As part of its deals, CPower sets up special communication protocols with its customers so they can quickly respond—often in less than 10 minutes—to requests to curtail power use. In some cases CPower installs devices so it can remotely control large pieces of equipment at a customer’s facility.

East Hanover, New Jersey-based Comverge and Boston, Massachusetts-based EnerNOC, both publically traded companies, are the biggest players in the demand response market, though Comverge is focused more on the residential market.

But CPower is starting to look beyond demand response. The company increasingly is expanding its offerings by helping companies generate revenue from efficiency programs, like installing new lighting or energy-saving chillers, which permanently reduce their energy usage. These companies, typically in states with renewable energy and efficiency mandates, can sell credits on special exchanges based on their permanent reduced energy use and generate revenue that exceeds the cost of their projects.

“We provide a managed service to customers who wouldn’t have the resources or expertise to get this revenue stream easily,” Mr. Fromer said.