Democratic presidential hopeful former Vice President Joe Biden laughs during the sixth Democratic primary debate of the 2020 presidential campaign season co-hosted by PBS NewsHour & Politico at Loyola Marymount University in Los Angeles, California on December 19, 2019.

Joe Biden's presidential campaign took in $22.7 million in the fourth quarter, an improving fundraising pace that still lags some of his rivals for the 2020 Democratic nomination.

It marks the best cash haul for the former vice president so far, his campaign announced Thursday. It did not say how much money it had in the bank heading into January, the crucial final weeks before the first primary nominating contest in Iowa.

"We had a great quarter, and we're going to expect another one next time," Biden said in a video shared by his campaign.

Joe Biden tweet

Biden's fourth-quarter total ranks third among the Democratic hopefuls who have announced the money they raised in the final three months of 2019. Sen. Bernie Sanders, I-Vt., took in a staggering $34.5 million. Former South Bend, Indiana, Mayor Pete Buttigieg raised $24.7 million.

Biden needed a fundraising rebound as he jockeys for position at the top of the 2020 Democratic presidential primary field. While the former vice president has consistently led in an average of national surveys, he is trying to regain the lead position in the first two nominating states of Iowa and New Hampshire.