diff --git a/Lib/fontTools/__init__.py b/Lib/fontTools/__init__.py
index 948c134d5..aaac38eb3 100644
--- a/Lib/fontTools/__init__.py
+++ b/Lib/fontTools/__init__.py
@@ -9,7 +9,7 @@ log = logging.getLogger(__name__)
 v = get_versions()
 if v["error"]:
     __import__('warnings').warn("versioneer: %s" % v['error'], RuntimeWarning)
-    __version__ = "3.2.0"
+    __version__ = "3.2.1"
 else:
     __version__ = v['version']
 del get_versions, v
diff --git a/setup.cfg b/setup.cfg
index 0b9291230..1f00038c7 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 3.2.0
+current_version = 3.2.1
 commit = True
 tag = True
 tag_name = {new_version}