“The tremendous early support demonstrates the momentum building for Mayor Farrell’s vision and new detailed policies that will get San Francisco back on track and make it the best City in the world for families,” Tu wrote in a statement.

The reported funding figures, which stretch from Farrell’s entrance into the race on Feb. 13 until March 13, would put him neck-and-neck with his moderate opponents, who include Mayor London Breed, Levi’s heir and nonprofit founder Daniel Lurie and Supervisor Ahsha Safaí. Board President Aaron Peskin, who would carve out a progressive lane in the race, is also expected to announce his candidacy.

The latest campaign filings show Breed raised $407,672 last year and spent a little over a third of her funds. Lurie brought in $520,462 during 2023—but he spent three-quarters of that war chest. Safaí raised $333,176 last year but spent a similarly significant portion of his money.

“You can’t spin it any other way,” said longtime San Francisco political consultant Jim Ross about Farrell’s fundraising efforts. “That it is good for his campaign and a really good showing.”