diff --git a/synapse/__init__.py b/synapse/__init__.py
index 9dbe0b9f1..f6a194dfc 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -27,4 +27,4 @@ try:
 except ImportError:
     pass
 
-__version__ = "0.33.4"
+__version__ = "0.33.5rc1"