Democratic candidate for president, former Vice President Joe Biden makes remarks about the DNI Whistleblower Report as well as President Trumps ongoing abuse of power at the Hotel DuPont on September 24, 2019 in Wilmington, Delaware.

Former Vice President Joe Biden announced Thursday that his campaign raised $15 million in the third quarter for his bid to win the 2020 Democratic presidential nomination, placing him behind Bernie Sanders and Pete Buttigieg.

For primary candidates, these fundraising totals often represent how their campaigns are performing and their standing in the polls.

Sanders raised $25 million and Buttigieg raised $19.1 million in the last quarter, while Kamala Harris raised $11.6 million. Elizabeth Warren has not yet released her fundraising numbers.

Biden raised $21.5 million in the second quarter. Going into his fundraising announcement, the former vice president was still statistically in the lead among voters, according to a Real Clear Politics poling average.

President Donald Trump's 2020 reelection campaign and the Republican National Committee raised a total of $125 million in the third quarter.

The pro-Trump groups, which also include his joint fundraising entities with the GOP, have raised more than $308 million this year and boast more than $156 million cash on hand.

In a press release, Biden's campaign said that 98% of their fundraising from the third quarter came from grassroots donors, with contributions equaling less than or equal to $200. They also said 56% of donors were new to the campaign. They did not say how much cash they have going into the pivotal fourth quarter.

"The question any campaign faces at this point is whether or not you have the resources to compete in early states and sustain your efforts beyond," campaign manager Greg Schultz said in a statement. "Our campaign unequivocally does and builds on our strength each week."