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This isn't expected to be the only donation from Bloomberg to the committee. Bloomberg isn't ruling out future contributions to the DNC, other committees, or running advertisements against the president or in support of Democrats.

\"The general election is just starting and there will be more to come,\" a Bloomberg aide told ABC News when asked about future contributions from the former mayor, who is worth an estimated $60 billion.

\"The dynamics of the race have also fundamentally changed, and it is critically important that we all do everything we can to support our eventual nominee and scale the Democratic Party’s general election effort,\" the Bloomberg memo says. \"We hope this investment will dramatically expand the DNC’s Battleground Build-Up 2020 efforts across battleground states, drawing in part from our own incredibly experienced and talented organizing staff.\"

The Biden campaign, which is currently leading in the delegate race in the two-man Democratic primary with Vermont Sen. Bernie Sanders, applauded Bloomberg's move.

\"We welcome the announcement of Mayor Bloomberg's extraordinary investment to ensure that happens,\" said Kate Bedingfield, Biden's Deputy campaign manager and communications director. \"We need to compete with the war chest that Donald Trump, the RNC, and their right-wing allies have amassed, and this will go a long way in ensuring that we can fund the grassroots efforts in key battleground states that will be necessary to win this November.\"

\"PHOTO:
Spencer Platt/Getty Images
PHOTO: Former Democratic presidential candidate Mike Bloomberg addresses his staff and the media after announcing that he will be ending his campaign, March 4, 2020, in New York City.
>

Bloomberg's massive investment comes after national Democrats launched the battleground program in January, and made two multi-million dollar installments into the effort, which aims to lay the groundwork for Democrats up and down the ballot, including for the eventual nominee across Pennsylvania, Wisconsin, Michigan, Florida, North Carolina, Arizona, Georgia, New Hampshire, Nevada, Ohio, Texas and Virginia.

The investment from Bloomberg, which surpasses the DNC's total fundraising from the month of February, which stands at $12.8 million, will allow for the party to fund \"more organizers across the country to elect the next president and help Democrats win up and down the ballot,\" Perez said.

\"The DNC has made early, historic investments in our battleground and general election programs, and the additional organizers we're putting on the ground will significantly bolster those efforts and help make sure Donald Trump is a one-term president,\" he continued.

The DNC's fundraising total from February is only the second time that national Democrats have raked in more than $10 million in both January and February - and the first time without holding the White House -- and it comes after the committee has struggled to find its way out of debt so far this cycle. In its most recent filing that discloses its finances from January, the DNC had $6 million in debt, and has been lagging behind its GOP counterpart, the Republican National Committee, which holds a fundraising advantage since the RNC has joined forces with the president to raise money.

But Bloomberg isn't only offering his campaign cash. His campaign will also transfer ownership of several of its former field offices to Democratic state parties, which will \"accelerate the hiring pace for important positions in organizing, data, and operations across the battleground states,\" according to the DNC.

For his part, this is not Bloomberg's first donation to Democrats this cycle. Late last year, Bloomberg donated $10 million to the House Majority PAC to help defend vulnerable House Democrats during the impeachment of the president - a move that came as the party faced a slew of well-financed Republican attacks on their support of moving forward with impeaching Trump.

Bloomberg also has a long history of deep-pocketed donations to help back candidates and causes. On the trail he often points to the help he gave House Democrats in the 2018 midterms -- where he spent upwards of $110 million -- and 21 of the 24 candidates he supported won their races.

ABC News' Sasha Pezenik contributed to this report.

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