Elizabeth Warren reached 3 million donations faster than any other first-time presidential candidate, per a person familiar with the campaign's fundraising.

Why it matters: She reached this milestone today — about one week before Sen. Bernie Sanders did the same in 2016. While donations come from all over the country, the last-minute surge before the Iowa caucuses suggests growing momentum for Warren before the first nominating contests of 2020.

The campaign reached 2 million donations at the end of October and raised $21.2 million in 2019's fourth quarter.

The bottom line: Warren hasn't raised the most of any 2020 Democrat, but a surge in donations is a good sign for her campaign, which has stumbled slightly in recent polling.