diff --git a/package.json b/package.json
index d5a37d8f8c..65f6e799e5 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
     "name": "element-web",
-    "version": "1.12.3",
+    "version": "1.12.4-rc.0",
     "description": "Element: the future of secure communication",
     "author": "New Vector Ltd.",
     "repository": {