diff --git a/CMakeLists.txt b/CMakeLists.txt
index 846871e7d..2110dff86 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -11,7 +11,7 @@ endif()
 # Set the version number for the library
 set (GTSAM_VERSION_MAJOR 3)
 set (GTSAM_VERSION_MINOR 2)
-set (GTSAM_VERSION_PATCH 0)
+set (GTSAM_VERSION_PATCH 1)
 math (EXPR GTSAM_VERSION_NUMERIC "10000 * ${GTSAM_VERSION_MAJOR} + 100 * ${GTSAM_VERSION_MINOR} + ${GTSAM_VERSION_PATCH}")
 set (GTSAM_VERSION_STRING "${GTSAM_VERSION_MAJOR}.${GTSAM_VERSION_MINOR}.${GTSAM_VERSION_PATCH}")
 
diff --git a/package.xml b/package.xml
index f7b3e0dc5..5b50b5af9 100644
--- a/package.xml
+++ b/package.xml
@@ -1,7 +1,7 @@
 <?xml version="1.0"?>
 <package format="2">
   <name>gtsam</name>
-  <version>3.1.0</version>
+  <version>3.2.1</version>
   <description>gtsam</description>
 
   <maintainer email="gtsam@lists.gatech.edu">Frank Dellaert</maintainer>