Washington (CNN) - As Newt Gingrich's GOP presidential candidacy gains momentum, his campaign says it has raised $1 million since Sunday.
The campaign brought in $250,000 in the past 24 hours, setting its one-day fundraising record, spokesman R.C. Hammond said Friday.
Much of the spurt in support is credited to Gingrich's performance in recent debates winning praise from many analysts.
Following Wednesday night's CBNC debate focusing on the economy, the Gingrich camp said it saw donations of $160,000 in the first 24 hours.
The fundraising spike will help the campaign erase its debt of nearly $1.2 million, which it reported for the quarter that ended Sept. 30.
"Despite every media attempt to prematurely write this campaign's eulogy, Speaker Gingrich continues to take advantage of the heavy debate schedule to win voters with his substantive ideas and bold policies," campaign manager Michael Krull wrote in an email solicitation to supporters Friday night.
The campaign hopes to use its resurgence to help build its infrastructure and to show the former house speaker is a viable candidate.
Two new national polls just out show Gingrich gaining ground. A CBS poll released Friday shows Gingrich tied for second place with Mitt Romney. A separate McClatchy-Marist poll shows Gingrich surpassing Herman Cain for second place, behind frontrunner Mitt Romney.
Gingrich is also opening campaign offices in New Hampshire and South Carolina this weekend.
"Much of the liberal media are claiming that the recent events on the campaign trail amount to further proof of their hypothesis that Mitt Romney is the inevitable nominee. Thankfully, these pundits don't get to choose our president or have any track record of making accurate predictions; remember when Newt's campaign was over months ago?" Krull wrote.