diff --git a/CHANGELOG b/CHANGELOG
index 889aeb495..d8d25fec4 100644
--- a/CHANGELOG
+++ b/CHANGELOG
@@ -1,3 +1,8 @@
+mkdocs-material-9.1.21+insiders-4.38.0 (2023-07-29)
+
+  * Added projects plugin for building nested projects
+  * Updated privacy plugin to new MkDocs API
+
 mkdocs-material-9.1.21+insiders-4.37.1 (2023-07-28)
 
   * Updated MkDocs to 1.5.1
diff --git a/docs/insiders/changelog.md b/docs/insiders/changelog.md
index c2976f24c..d24813ddd 100644
--- a/docs/insiders/changelog.md
+++ b/docs/insiders/changelog.md
@@ -2,6 +2,11 @@
 
 ## Material for MkDocs Insiders
 
+### 4.38.0 <small>July 29, 2023</small> { id="4.38.0" }
+
+- Added projects plugin for building nested projects
+- Updated privacy plugin to new MkDocs API
+
 ### 4.37.1 <small>July 28, 2023</small> { id="4.37.1" }
 
 - Updated MkDocs to 1.5.1