Ted Cruz's campaign team is shrugging off the lost endorsement of Tea Party darling Sarah Palin by celebrating a new benchmark.

The candidate's team announced Wednesday night that it has mobilized 12,000 volunteers in Iowa and raised $50 million in donations.

"We raised over $700,000 yesterday, which put us over the $50 million mark for this campaign," Cruz spokesman Rick Tyler told CNN's Wolf Blitzer. "We are built to last and ready to go."

Cruz, currently ranked first in the Washington Examiner's presidential power rankings, is $3 million ahead of third-ranked Sen. Marco Rubio's fundraising totals. Jeb Bush's campaign is way ahead of Cruz's totals, but it raised most of that money last year before Bush had tanked in the polls.

Trump, in second place in our power rankings, has raised nearly $6 million. He has mainly used is own money to finance his run, according to Inside Gov reports.

Tyler wouldn't say whether Cruz tried to solicit Palin's support later in the campaign. Instead he emphasized the campaign pushed for its goal of 10 million supporters and only missed by one person.