(CNN) – President Barack Obama's re-election campaign announced Monday that it, along with the Democratic National Committee, raised $71 million in June from more than 706,000 donors.
The amount lags far behind the $106 million Mitt Romney and the Republican National Committee raised last month, a number the campaign made official early Monday.
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However, Obama's campaign last month predicted it would be out-raised by Romney's campaign and noted in an email to supporters Monday that the month of June still proved to be the campaign's "best month of this election so far."
"But we still got beat - and not by a little bit," Ann Marie Habershaw, chief operating officer for Obama for America, said in the email. "If we lose this election, it will be because we didn't close the gap enough when we had the chance."
According to the campaign, more than 706,000 people donated in June, with more than 181,000 of them contributing for the first time.
More than 98% of contributions last month were less than $250, with the average donation coming in at $52.54.
Romney's campaign, meanwhile, said Monday that 94% of their contributions were $250 or less, adding up to $22.3 million, which is just over a fifth of all money Romney raised in June.
In May, the combined efforts between the Obama campaign and the DNC took in $60 million and had slightly less than $110 million in the bank.
While Team Obama did not acknowledge Monday how much money the campaign has in the bank, Romney's campaign announced it finished June with $160 million cash on hand.
– CNN Political Editor Paul Steinhauser contributed to this report.