Washington (CNN) – President Barack Obama's re-election campaign announced Monday that they raised $53 million in March, up about $8 million from the month before.
The campaign made their announcement in a web video, which touted 567,000 donors last month, including 190,000 first time contributors. The campaign said 97% of donations were for $250 or less and that the average contribution was $50.78.
The money raised goes to the Obama Victory Fund, which is divided by the Obama re-election campaign, the Democratic National Committee and affiliated committees.
The Obama campaign did not indicate its cash on hand. As of March first the campaign reported $85 million in the bank. The campaign has raised well over $300 million since officially forming in April of last year. Obama broke all records by raising nearly $750 million in his 2008 campaign for the presidency.
The campaign of all but certain Republican presidential nominee Mitt Romney has not yet released their March fundraising figures. The former Massachusetts governor raised $12 million in February, with $7.3 million cash on hand.
Romney's main rival for the nomination, former Sen. Rick Santorum of Pennsylvania, suspended his bid for the White House last week, allowing Romney to turn nearly all of his attention to the general election. The Romney campaign has begun joint fundraising with the Republican National Committee.