diff --git a/instruments/__init__.py b/instruments/__init__.py
index 562ae3bae..3ae8c8d05 100644
--- a/instruments/__init__.py
+++ b/instruments/__init__.py
@@ -36,7 +36,7 @@
 # In keeping with PEP-396, we define a version number of the form
 # {major}.{minor}[.{postrelease}]{prerelease-tag}
 
-__version__ = "0.3.1"
+__version__ = "0.4.0"
 
 __title__ = "instrumentkit"
 __description__ = "Test and measurement communication library"