diff --git a/CMakeLists.txt b/CMakeLists.txt
index 9420aa7fd..27e9e92eb 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -42,7 +42,7 @@ message(STATUS "Enabled languages: ${languages}")
 
 project(k2 ${languages})
 
-set(K2_VERSION "1.2")
+set(K2_VERSION "1.3")
 
 # ----------------- Supported build types for K2 project -----------------
 set(ALLOWABLE_BUILD_TYPES Debug Release RelWithDebInfo MinSizeRel)