diff --git a/VERSION b/VERSION
index f665c8f..392ef3a 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.3.0.signals.1
+0.3.1.signals.1
diff --git a/statsd-ruby.gemspec b/statsd-ruby.gemspec
index 3e33a18..2f303f2 100644
--- a/statsd-ruby.gemspec
+++ b/statsd-ruby.gemspec
@@ -5,7 +5,7 @@
 
 Gem::Specification.new do |s|
   s.name = "statsd-ruby"
-  s.version = "0.3.0.signals.1"
+  s.version = "0.3.1.signals.2"
 
   s.required_rubygems_version = Gem::Requirement.new("> 1.3.1") if s.respond_to? :required_rubygems_version=
   s.authors = ["Rein Henrichs"]