Former Democratic Senator Jim Webb just announced his campaign for president

Former Sen. Jim Webb (D-Virginia) on Thursday became the latest contender to throw his hat into the 2016 presidential race.

“After many months of thought, deliberation and discussion, I have decided to seek the office of the Presidency of the United States,” Webb said in a statement on his campaign website.

Webb faces daunting odds in the face of other, more prominent Democrats who are seeking the presidency. Notably, former Secretary of State Hillary Clinton has locked up the support of most of her party’s establishment.

Webb’s statement acknowledged the uphill battle before him.

“I understand the odds, particularly in today’s political climate where fair debate is so often drowned out by huge sums of money,” he said. “But our country needs a fresh approach to solving the problems that confront us and too often unnecessarily divide us.”

“Let’s work together to make America an even better place,” he concluded. “I am ready to fight on behalf of every one of these issues. Will you help me do that?”

NOW WATCH: Here are all the best moments from Donald Trump’s presidential announcement

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.