diff --git a/package.json b/package.json
index 440897907e..e926af5608 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
     "name": "element-web",
-    "version": "1.11.39",
+    "version": "1.11.40-rc.1",
     "description": "A feature-rich client for Matrix.org",
     "author": "New Vector Ltd.",
     "repository": {