(CNN) - Republican Virginia Senate candidate George Allen brought in nearly $1.1 million in fourth quarter fundraising, his campaign announced Tuesday.
The former governor finished the year with $4.5 million in fundraising and more than $2 million cash on hand. Well ahead of the state's party primaries in June, Allen is locked in a heated battle against the Democratic front-runner Tim Kaine, who's also a former governor.
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Allen launched his Senate bid in January, hoping to fill the seat to be vacated when Democratic Sen. Jim Webb retires in 2013.
"I truly believe the 2012 election is our generation's 'rendezvous with destiny' and Virginians are energized and ready to bring change to Washington," Allen said in a statement.
Meanwhile, Kaine's campaign said its numbers for the year's final three months are not yet available. For the third quarter ending in September, Kaine reported $1.3 million in donations, with a total of $3.55 million raised and $2.55 million cash on hand.
Kaine left his post as chair of the Democratic National Committee in April to run for Senate.
According to a Quinnipiac University poll released at the end of December, the two candidates were in a statistical tie, with 44% of voters backing Allen and 42% supporting Kaine. The margin fell within the sampling error.
"Two popular former governors mean Virginia's U.S. Senate race could be a real cliff-hanger," Peter A. Brown, assistant director of the Quinnipiac University Polling Institute, said in a statement.
While the two candidates both remain strong front-runners in their respective parties, Allen may soon get a new–and rather well-known–challenger from the right.
The Richmond Times-Dispatch reported longtime Virginia state lawmaker Bob Marshall, who nearly won the GOP nomination in the state's 2008 Senate race, could throw his hat in the ring.
"I am taking prudent steps that anyone would to be a candidate," he told the paper on Monday when asked if he was petitioning to get his name on the ballot for the June GOP primary.
Both Charlie Cook and Stuart Rothenberg, non partisan political handicappers, rank the 2012 Senate race as a toss-up.