diff --git a/CMakeLists.txt b/CMakeLists.txt
index 9f90d1d10..aa58d1b37 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -45,7 +45,7 @@ message(STATUS "Enabled languages: ${languages}")
 
 project(k2 ${languages})
 
-set(K2_VERSION "1.11")
+set(K2_VERSION "1.12")
 
 # ----------------- Supported build types for K2 project -----------------
 set(ALLOWABLE_BUILD_TYPES Debug Release RelWithDebInfo MinSizeRel)