Biden campaign raised more than $360 million in August, breaking fundraising records for both parties

• Former Vice President Joe Biden broke monthly fundraising records in August.
• His campaign raked in a whopping $364.5 million, the largest amount of money raised in one month by candidates from either party.
• More than 1.5 million people donated for the first time to the Biden campaign.

Democratic presidential candidate Joe Biden raked in a record-setting $364.5 million in donations in August, his campaign announced on Wednesday.

The massive fundraising haul "makes August the best month for online fundraising in political history," the Biden campaign announced.

—Joe Biden (@JoeBiden) September 2, 2020

Over $205 million — or more than half of the money raised — came from small-dollar online donations, the campaign reported. Also, more than 1.5 million people contributed to the campaign for the first time.

Biden's presidential campaign has seen a massive surge in donations, mainly from small donors, since the announcement of his running mate, Sen. Kamala Harris, on Aug. 11. In the 24 hours after she was tapped, Biden raised $26 million.

ActBlue, the main online donations platform for the Democratic Party, also reported $35 million in contributions on Monday, its second-highest fundraising day ever. The site has received an estimated $11 million every day since Harris joined Biden's election bid, The New York Times reported.

Most of the donations for August poured in from online grassroots donors, while checks as big as $720,000 came from Silicon Valley and Wall Street, one source told The Times.

Biden's massive August haul far surpasses the $140 million he and the Democratic Party raised in July. He has been trying to close the money gap between himself and President Donald Trump, who raised $165 million in the same month. At the end of July, Trump's campaign reported roughly $120 million cash on hand versus Biden's $99 million, according to FEC filings.

August's Federal Elections Commission filings have not yet been released for Biden or Trump.

Most recently, both campaigns announced fundraising numbers following their respective party conventions that took place over the last two weeks. Biden and the Democrats processed around $70 million after the Democratic National Convention, pacing behind Trump and the GOP who got $76 million in donations after the Republican National Convention.

The last recorded monthly all-time high was in September 2008, when then-presidential candidate Barack Obama received $193 million in donations, according to The Times.

This article has been updated.