diff --git a/synapse/__init__.py b/synapse/__init__.py
index d62294e6bb..e9ce0412ed 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -16,4 +16,4 @@
 """ This is a reference implementation of a Matrix home server.
 """
 
-__version__ = "0.10.0-r2"
+__version__ = "0.10.1-rc1"