Fiorina, along with Sen. Marco Rubio (R-Fla.), are reportedly among those on a short list of potential candidates the Kochs may support. Rubio has also risen in polls in recent weeks.
Reuters noted that a Koch Industries PAC helped sponsor a fundraiser for Fiorina's 2010 Senate run in California and donated $10,000 to her campaign against Sen. Barbara Boxer (D-Calif.).
Spokespeople for the Kochs and Fiorina declined to comment for the report.
The former business executive is second only to Donald Trump in the early-voting state of New Hampshire, trailing the billionaire by 5 points there in a poll released Sunday.
Fiorina also comes in third in the crowded GOP field in Iowa, the NBC News/Wall Street Journal/Marist poll found, following Trump and retired neurosurgeon Ben Carson.
–Updated: 4 p.m.