It's the third straight month the former Massachusetts governor has raised more than $100 million. The figure represents his best one-month fundraising total.
Obama, however, edged out Romney, raising $114 million toward his re-election campaign. However, Romney has socked away more money for the general election campaign.
Obama is reversing a three-month trend at the time he needs it most, having spent heavily over the summer on advertising in an attempt to keep Romney at bay.
Both candidates are claiming momentum coming out of their national conventions over the past two weeks.