Elizabeth Warren's campaign said on Friday that it raised $24.6 million in the third quarter of 2019, putting her just behind Bernie Sanders for this quarter's fundraising among 2020 Democrats.

Why it matters: Warren swore off "big money fundraisers" at the start of this cycle, but she's managed to rake in a massive amount of money from grassroots, small-dollar donors.

By the numbers:

The average contribution to her campaign was $26.

More than 300,000 people donated to her for the first time in Q3, the campaign said.

And they've received just under 1 million donations so far this cycle (943,000).

The campaign also said it has $25.7 million in cash-on-hand.

What they're saying: "This means our grassroots movement is in an incredible position," the campaign said in a statement, "to double down on our investments in grassroots organizing."

The state of play: Sanders raised $25.3 million from 1.4 million donations — the most of any Democratic presidential candidate in Q3.

Where other Democratic candidates stand:

Go deeper: Trump campaign, RNC say they raised record-breaking $125 million in Q3