diff --git a/caravel/__init__.py b/caravel/__init__.py
index 8b1489b9ee8e7..033a23d3c7adf 100644
--- a/caravel/__init__.py
+++ b/caravel/__init__.py
@@ -13,7 +13,7 @@
 from flask.ext.cache import Cache
 from flask.ext.migrate import Migrate
 
-VERSION = '0.8.6'
+VERSION = '0.8.7'
 
 APP_DIR = os.path.dirname(__file__)
 CONFIG_MODULE = os.environ.get('CARAVEL_CONFIG', 'caravel.config')
diff --git a/setup.py b/setup.py
index fb646d1fe45dc..5e4f4861f3e81 100644
--- a/setup.py
+++ b/setup.py
@@ -1,6 +1,6 @@
 from setuptools import setup, find_packages
 
-VERSION = '0.8.6'
+VERSION = '0.8.7'
 
 
 setup(