State Sen. Creigh Deeds (D) announced yesterday that he raised $3.4 million in one month, from May 28 to June 30 -- the most recent fundraising period in the Virginia gubernatorial race. Deeds now has $2.7 million cash on hand.

"The key to winning this campaign will be to show who has the best plan to keep Virginia moving forward, and this month has shown that we are well on our way to having the financial resources to do that," Deeds said in a released statement.

Deeds's Republican opponent, former Attorney General Bob McDonnell, announced today that he raised $1.8 million during the same time span and now has $4.92 million cash on hand.

"Our campaign enters the final four months of the race in a strong financial position to carry our positive message of new jobs and more opportunities to every region of the state," said McDonnell campaign manager Phil Cox. "Despite the fact that we were on television for over half of the period, we maintain a nearly 2 to 1 cash on hand advantage over our opponent."

Deeds defeated Terry McAuliffe and Brian Moran in the June 9 Democratic primary. McDonnell was unopposed for the GOP nomination, though he began advertising statewide in May.