diff --git a/synapse/__init__.py b/synapse/__init__.py
index 1ddbbbebf..c8377df7b 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -27,4 +27,4 @@ try:
 except ImportError:
     pass
 
-__version__ = "0.33.7"
+__version__ = "0.33.8rc1"