Democratic presidential contender Pete Buttigieg is seeing increased support from business leaders as he jumps in the polls following a successful showing in the Iowa caucuses.

Dozens of executives who have largely remained on the sidelines during the 2020 election cycle have shown increased interest in Buttigieg's presidential campaign over the past week, according to people with direct knowledge of the matter who declined to be named because these conversations were deemed private.

The increased interest in Buttigieg comes as he tries to position himself as the best option among moderate Democratic candidates for the White House, particularly as former Vice President Joe Biden, once a clear front-runner for the nomination, stumbles in the early stages of the primary race. Buttigieg is also polling strongly among New Hampshire Democrats ahead of the state's primary Tuesday.

One new Buttigieg supporter is former Goldman Sachs partner David Heller, who has spoken with members of Buttigieg's bundler operation and has indicated he will back his campaign, these people said.

Heller, an investor in Peloton and a former minority owner in the Philadelphia 76ers, was a key architect during Barack Obama's fundraising operation during his first run for president in 2008. He helped raise up to $500,000 for Obama's initial campaign for the White House, according to the nonpartisan Center for Responsive Politics.

Another who is leaning toward Buttigieg is former National Association of Manufacturers president and CEO Jerry Jasinowski, these people added. Jasinowski endorsed Hillary Clinton in the 2016 election and contributed to Obama in 2008.

In the wake of Buttigieg's success in Iowa, the campaign announced it raised more than $2.7 million and attracted more than 22,000 new donors. The addition of some of these business leaders could help Buttigieg gain momentum with fundraisers and have enough cash on hand to successfully compete in the later primary states. He went into 2020 with $14 million on hand, ahead of Biden but behind Sanders. The Iowa Democratic Party allocated the most delegates to Buttigieg in the wake of their caucus debacle last week. The former South Bend, Indiana, mayor acquired 14 delegates, while Sen. Bernie Sanders acquired 12 delegates.