Federer won the match 6-4, 6-7 (2/7), 6-4 but was made to work very hard for the win.
Raonic feels that his performance showed just how much he has improved during this year.
"You put me in that same situation a few months and weeks ago (down a set and a break) and I think I could be out of that stadium pretty quickly," he told media.
"I wish I could have served better in general … but I performed really well in other aspects.
"(There's) not really too much else I can ask for myself. I couldn't have asked for a better way to go into the Australian Open," he added.
Raonic said that the Australian Open was a realistic goal, given his current form.
"I can put myself in the position to be (a winner)," he said.
"There is a lot of tennis to be played, there are a lot of things I need to do.
"But I feel like I have the confidence, and I believe I have that ability within myself," he added.