diff --git a/package.json b/package.json
index d21d9686fd..7df453c561 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "element-web",
-  "version": "1.7.31",
+  "version": "1.7.32-rc.1",
   "description": "A feature-rich client for Matrix.org",
   "author": "New Vector Ltd.",
   "repository": {