Kentucky Moving Forward, a new super PAC, announced its formation and said it would be supporting Gray's candidacy.
Gray, who co-owns a construction company, has already loaned his campaign more than $1 million of his own money to keep pace with Republican Sen. Rand Paul. Paul reported more than $2.2 million in the bank in July, or $1 million more than Gray reported.
Steve Wilson, founder of the 21c Museum Hotels, is the group's treasurer.
Gray has been mayor of Lexington, Kentucky's second largest city, since 2011. Paul, who dropped out of this year's presidential race in February, was elected to the Senate in 2010.
Gray has received $82,700 from political action committees, while Paul has received $609,050, according to the Federal Election Commission.
