“Pete continues to stand out as having the vision and leadership voters know we need to tackle the urgent problems facing our country. It also positions us solidly as one of the top three fundraisers in this race,” Mike Schmuhl, Buttigieg's campaign manager, said in a memo released Tuesday morning. “We will have the resources to go the full distance, and to win, the 2020 nominating contests.”

Buttigieg’s announcement will kick off a series of fundraising declarations from opponents as the Democratic candidates their money after the third quarter, which ended Monday night. And while the summer fundraising period is often slower than others, as donors take vacations and check out from politics, the rising importance of digital fundraising could give some candidates an opportunity to build on big second-quarter totals.

Vice President Joe Biden was the only candidate other than Buttigieg to crack $20 million in the second quarter, bringing in $21.5 million after entering the race. Sens. Elizabeth Warren ($19.1 million) and Bernie Sanders ($18 million) were close behind, followed by Kamala Harris ($12 million) — the only other candidate to break eight figures in the spring.

Candidates must file Federal Election Commission disclosures detailing their third-quarter fundraising and spending by Oct. 15.

Buttigieg's fundraising announcement comes amid an all-out push by the mayor's campaign to invest more heavily in early nominating-state infrastructure. Buttigieg spent more than 20 percent of the quarter on the ground in Iowa, and his campaign opened 42 field offices across the early nominating states of Iowa, New Hampshire, Nevada and South Carolina. The campaign also expanded its staffing footprint in the early states over the summer.