diff --git a/CHANGELOG.md b/CHANGELOG.md
index e0716a82..625e0e9f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,9 @@
 
 ## Unreleased
 
+## 1.12.0 - 2023-07-17
+- Upgraded Otel dependencies to 1.19.0 and 0.40b0
+
 ## 1.11.0 - 2023-05-24
 - Upgraded Otel dependencies to 1.18.0 and 0.39b0
 
diff --git a/README.md b/README.md
index d7e5eea4..9be1bdfe 100644
--- a/README.md
+++ b/README.md
@@ -11,7 +11,7 @@
 </p>
 
 <p align="center">
-  <span class="otel-version-badge"><a href="https://github.com/open-telemetry/opentelemetry-python/releases/tag/v1.18.0"><img alt="OpenTelemetry Python Version" src="https://img.shields.io/badge/otel-1.18.0-blueviolet?style=for-the-badge"/></a></span>
+  <span class="otel-version-badge"><a href="https://github.com/open-telemetry/opentelemetry-python/releases/tag/v1.19.0"><img alt="OpenTelemetry Python Version" src="https://img.shields.io/badge/otel-1.19.0-blueviolet?style=for-the-badge"/></a></span>
   <a href="https://github.com/signalfx/splunk-otel-python/releases">
     <img alt="GitHub release (latest SemVer)" src="https://img.shields.io/github/v/release/signalfx/splunk-otel-python?style=for-the-badge">
   </a>
diff --git a/poetry.lock b/poetry.lock
index fc5a35bc..09078663 100644
--- a/poetry.lock
+++ b/poetry.lock
@@ -86,7 +86,7 @@ pycparser = "*"
 
 [[package]]
 name = "charset-normalizer"
-version = "3.1.0"
+version = "3.2.0"
 description = "The Real First Universal Charset Detector. Open, modern and actively maintained alternative to Chardet."
 category = "dev"
 optional = false
@@ -196,28 +196,28 @@ requests = "*"
 
 [[package]]
 name = "googleapis-common-protos"
-version = "1.59.0"
+version = "1.59.1"
 description = "Common protobufs used in Google APIs"
 category = "main"
 optional = false
 python-versions = ">=3.7"
 
 [package.dependencies]
-protobuf = ">=3.19.5,<3.20.0 || >3.20.0,<3.20.1 || >3.20.1,<4.21.1 || >4.21.1,<4.21.2 || >4.21.2,<4.21.3 || >4.21.3,<4.21.4 || >4.21.4,<4.21.5 || >4.21.5,<5.0.0dev"
+protobuf = ">=3.19.5,<3.20.0 || >3.20.0,<3.20.1 || >3.20.1,<4.21.1 || >4.21.1,<4.21.2 || >4.21.2,<4.21.3 || >4.21.3,<4.21.4 || >4.21.4,<4.21.5 || >4.21.5,<5.0.0.dev0"
 
 [package.extras]
-grpc = ["grpcio (>=1.44.0,<2.0.0dev)"]
+grpc = ["grpcio (>=1.44.0,<2.0.0.dev0)"]
 
 [[package]]
 name = "grpcio"
-version = "1.55.0"
+version = "1.56.0"
 description = "HTTP/2-based RPC framework"
 category = "main"
 optional = false
 python-versions = ">=3.7"
 
 [package.extras]
-protobuf = ["grpcio-tools (>=1.55.0)"]
+protobuf = ["grpcio-tools (>=1.56.0)"]
 
 [[package]]
 name = "idna"
@@ -229,7 +229,7 @@ python-versions = ">=3.5"
 
 [[package]]
 name = "importlib-metadata"
-version = "6.0.1"
+version = "6.7.0"
 description = "Read metadata from Python packages"
 category = "main"
 optional = false
@@ -242,7 +242,7 @@ zipp = ">=0.5"
 [package.extras]
 docs = ["sphinx (>=3.5)", "jaraco.packaging (>=9)", "rst.linker (>=1.9)", "furo", "sphinx-lint", "jaraco.tidelift (>=1.4)"]
 perf = ["ipython"]
-testing = ["pytest (>=6)", "pytest-checkdocs (>=2.4)", "flake8 (<5)", "pytest-cov", "pytest-enabler (>=1.3)", "packaging", "pyfakefs", "flufl.flake8", "pytest-perf (>=0.9.2)", "pytest-black (>=0.3.7)", "pytest-mypy (>=0.9.1)", "pytest-flake8", "importlib-resources (>=1.3)"]
+testing = ["pytest (>=6)", "pytest-checkdocs (>=2.4)", "pytest-cov", "pytest-enabler (>=1.3)", "pytest-ruff", "packaging", "pyfakefs", "flufl.flake8", "pytest-perf (>=0.9.2)", "pytest-black (>=0.3.7)", "pytest-mypy (>=0.9.1)", "importlib-resources (>=1.3)"]
 
 [[package]]
 name = "iniconfig"
@@ -330,7 +330,7 @@ python-versions = ">=3.5"
 
 [[package]]
 name = "opentelemetry-api"
-version = "1.18.0"
+version = "1.19.0"
 description = "OpenTelemetry Python API"
 category = "main"
 optional = false
@@ -338,11 +338,11 @@ python-versions = ">=3.7"
 
 [package.dependencies]
 deprecated = ">=1.2.6"
-importlib-metadata = ">=6.0.0,<6.1.0"
+importlib-metadata = ">=6.0,<7.0"
 
 [[package]]
 name = "opentelemetry-exporter-jaeger-thrift"
-version = "1.18.0"
+version = "1.19.0"
 description = "Jaeger Thrift Exporter for OpenTelemetry"
 category = "main"
 optional = false
@@ -355,18 +355,18 @@ thrift = ">=0.10.0"
 
 [[package]]
 name = "opentelemetry-exporter-otlp-proto-common"
-version = "1.18.0"
+version = "1.19.0"
 description = "OpenTelemetry Protobuf encoding"
 category = "main"
 optional = false
 python-versions = ">=3.7"
 
 [package.dependencies]
-opentelemetry-proto = "1.18.0"
+opentelemetry-proto = "1.19.0"
 
 [[package]]
 name = "opentelemetry-exporter-otlp-proto-grpc"
-version = "1.18.0"
+version = "1.19.0"
 description = "OpenTelemetry Collector Protobuf over gRPC Exporter"
 category = "main"
 optional = false
@@ -378,16 +378,16 @@ deprecated = ">=1.2.6"
 googleapis-common-protos = ">=1.52,<2.0"
 grpcio = ">=1.0.0,<2.0.0"
 opentelemetry-api = ">=1.15,<2.0"
-opentelemetry-exporter-otlp-proto-common = "1.18.0"
-opentelemetry-proto = "1.18.0"
-opentelemetry-sdk = ">=1.18.0,<1.19.0"
+opentelemetry-exporter-otlp-proto-common = "1.19.0"
+opentelemetry-proto = "1.19.0"
+opentelemetry-sdk = ">=1.19.0,<1.20.0"
 
 [package.extras]
 test = ["pytest-grpc"]
 
 [[package]]
 name = "opentelemetry-instrumentation"
-version = "0.39b0"
+version = "0.40b0"
 description = "Instrumentation Tools & Auto Instrumentation for OpenTelemetry Python"
 category = "main"
 optional = false
@@ -399,7 +399,7 @@ wrapt = ">=1.0.0,<2.0.0"
 
 [[package]]
 name = "opentelemetry-propagator-b3"
-version = "1.18.0"
+version = "1.19.0"
 description = "OpenTelemetry B3 Propagator"
 category = "main"
 optional = false
@@ -411,7 +411,7 @@ opentelemetry-api = ">=1.3,<2.0"
 
 [[package]]
 name = "opentelemetry-proto"
-version = "1.18.0"
+version = "1.19.0"
 description = "OpenTelemetry Python Proto"
 category = "main"
 optional = false
@@ -422,20 +422,20 @@ protobuf = ">=3.19,<5.0"
 
 [[package]]
 name = "opentelemetry-sdk"
-version = "1.18.0"
+version = "1.19.0"
 description = "OpenTelemetry Python SDK"
 category = "main"
 optional = false
 python-versions = ">=3.7"
 
 [package.dependencies]
-opentelemetry-api = "1.18.0"
-opentelemetry-semantic-conventions = "0.39b0"
+opentelemetry-api = "1.19.0"
+opentelemetry-semantic-conventions = "0.40b0"
 typing-extensions = ">=3.7.4"
 
 [[package]]
 name = "opentelemetry-semantic-conventions"
-version = "0.39b0"
+version = "0.40b0"
 description = "OpenTelemetry Semantic Conventions"
 category = "main"
 optional = false
@@ -459,26 +459,26 @@ python-versions = ">=3.7"
 
 [[package]]
 name = "platformdirs"
-version = "3.5.1"
+version = "3.9.1"
 description = "A small Python package for determining appropriate platform-specific dirs, e.g. a \"user data dir\"."
 category = "dev"
 optional = false
 python-versions = ">=3.7"
 
 [package.dependencies]
-typing-extensions = {version = ">=4.5", markers = "python_version < \"3.8\""}
+typing-extensions = {version = ">=4.6.3", markers = "python_version < \"3.8\""}
 
 [package.extras]
-docs = ["furo (>=2023.3.27)", "proselint (>=0.13)", "sphinx-autodoc-typehints (>=1.23,!=1.23.4)", "sphinx (>=6.2.1)"]
-test = ["appdirs (==1.4.4)", "covdefaults (>=2.3)", "pytest-cov (>=4)", "pytest-mock (>=3.10)", "pytest (>=7.3.1)"]
+docs = ["furo (>=2023.5.20)", "proselint (>=0.13)", "sphinx-autodoc-typehints (>=1.23,!=1.23.4)", "sphinx (>=7.0.1)"]
+test = ["appdirs (==1.4.4)", "covdefaults (>=2.3)", "pytest-cov (>=4.1)", "pytest-mock (>=3.10)", "pytest (>=7.3.1)"]
 
 [[package]]
 name = "pluggy"
-version = "1.0.0"
+version = "1.2.0"
 description = "plugin and hook calling mechanisms for python"
 category = "dev"
 optional = false
-python-versions = ">=3.6"
+python-versions = ">=3.7"
 
 [package.dependencies]
 importlib-metadata = {version = ">=0.12", markers = "python_version < \"3.8\""}
@@ -489,7 +489,7 @@ testing = ["pytest", "pytest-benchmark"]
 
 [[package]]
 name = "protobuf"
-version = "4.23.2"
+version = "4.23.4"
 description = ""
 category = "main"
 optional = false
@@ -677,7 +677,7 @@ python-versions = ">=3.7"
 
 [[package]]
 name = "typed-ast"
-version = "1.5.4"
+version = "1.5.5"
 description = "a fork of Python 2 and 3 ast modules with type comment support"
 category = "dev"
 optional = false
@@ -693,7 +693,7 @@ python-versions = "*"
 
 [[package]]
 name = "typing-extensions"
-version = "4.6.3"
+version = "4.7.1"
 description = "Backported and Experimental Type Hints for Python 3.7+"
 category = "main"
 optional = false
@@ -742,7 +742,7 @@ otlp = ["opentelemetry-exporter-otlp-proto-grpc"]
 [metadata]
 lock-version = "1.1"
 python-versions = "^3.7"
-content-hash = "d11a2d2ff95bfdc2022b3fc5ccfb22d3b41bed7fd912c663ab068f8592045ef3"
+content-hash = "56c2e6bfe9639b1ed11ae327b426670d885f78ffef4a320f891fd5de1e17be10"
 
 [metadata.files]
 astroid = []
diff --git a/pyproject.toml b/pyproject.toml
index 372c9c97..139a1b9c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "splunk-opentelemetry"
-version = "1.11.0"
+version = "1.12.0"
 description = "The Splunk distribution of OpenTelemetry Python Instrumentation provides a Python agent that automatically instruments your Python application to capture and report distributed traces to SignalFx APM."
 authors = ["Splunk <splunk-oss@splunk.com>"]
 license = "Apache-2.0"
@@ -28,13 +28,13 @@ splunk_distro = "splunk_otel.distro:_SplunkDistro"
 [tool.poetry.dependencies]
 cryptography=">=2.0,<=40.0.2"
 python = "^3.7"
-opentelemetry-api = "1.18.0"
-opentelemetry-sdk = "1.18.0"
-opentelemetry-instrumentation = "0.39b0"
-opentelemetry-semantic-conventions = "0.39b0"
-opentelemetry-propagator-b3 = "1.18.0" 
-opentelemetry-exporter-jaeger-thrift = "1.18.0"
-opentelemetry-exporter-otlp-proto-grpc = "1.18.0"
+opentelemetry-api = "1.19.0"
+opentelemetry-sdk = "1.19.0"
+opentelemetry-instrumentation = "0.40b0"
+opentelemetry-semantic-conventions = "0.40b0"
+opentelemetry-propagator-b3 = "1.19.0" 
+opentelemetry-exporter-jaeger-thrift = "1.19.0"
+opentelemetry-exporter-otlp-proto-grpc = "1.19.0"
 
 [tool.poetry.extras]
 all = ["opentelemetry-propagator-b3", "opentelemetry-exporter-otlp-proto-grpc", "opentelemetry-exporter-jaeger-thrift"]