diff --git a/CHANGELOG.md b/CHANGELOG.md
index a92823b..3f28109 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+## [0.3.2](https://github.com/googleapis/python-memcache/compare/v0.3.1...v0.3.2) (2022-06-08)
+
+
+### Bug Fixes
+
+* **deps:** require protobuf<4.0.0 on v0 branch ([#188](https://github.com/googleapis/python-memcache/issues/188)) ([5993a41](https://github.com/googleapis/python-memcache/commit/5993a41fc8c90435653722ac4ef3ef2845659927))
+
 ### [0.3.1](https://github.com/googleapis/python-memcache/compare/v0.3.0...v0.3.1) (2022-04-01)
 
 
diff --git a/setup.py b/setup.py
index 6ef1645..673a5a7 100644
--- a/setup.py
+++ b/setup.py
@@ -19,7 +19,7 @@
 import os
 import setuptools  # type: ignore
 
-version = "0.3.1"
+version = "0.3.2"
 
 package_root = os.path.abspath(os.path.dirname(__file__))