Kentucky Secretary of State Alison Lundergan Grimes (D) officially launched her Senate campaign against long-serving incumbent Mitch McConnell (R) in Lexington. (Melinda Henneberger/Washington Post)

Kentucky Secretary of State Alison Lundergan Grimes (D) outraised Senate Minority Leader Mitch McConnell (R-Ky.) in the first quarter -- the second time she has accomplished that feat in the last three quarters.

Grimes's campaign on Tuesday announced a $2.7 million haul. That's her biggest to date and better than McConnell's $2.4 million.

Just as importantly (if not more), Grimes's campaign is quickly narrowing the gap when it comes to available cash. While McConnell spent more than he raised in the first quarter, Grimes banked at least $1.7 million of her $2.7 million and now has $5 million cash on hand.

Thanks to his big head start, though, McConnell still has a large cash edge, with $10.4 million.

McConnell still faces a May primary with businessman Matt Bevin (R), who pulled in a strong $1.1 million in the first quarter -- money that assures he'll at least be an expensive nuisance for McConnell in the primary.

Since getting in the race, Grimes has outraised McConnell $7.3 million to $6.9 million.