diff --git a/synapse/__init__.py b/synapse/__init__.py
index ef8853bd24..d72d88b47d 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -16,4 +16,4 @@
 """ This is a reference implementation of a Matrix home server.
 """
 
-__version__ = "0.26.0"
+__version__ = "0.27.0-rc1"