diff --git a/build.gradle.kts b/build.gradle.kts
index a25de1454a..ba1a0c5059 100644
--- a/build.gradle.kts
+++ b/build.gradle.kts
@@ -1,5 +1,5 @@
 plugins {
-    kotlin("jvm") version "1.4.32" apply true
+    kotlin("jvm") version "1.5.0" apply true
     id("io.github.gradle-nexus.publish-plugin") apply true
     id("org.jmailen.kotlinter") version "3.4.4"
 }
diff --git a/buildSrc/src/main/kotlin/org/jetbrains/exposed/gradle/Versions.kt b/buildSrc/src/main/kotlin/org/jetbrains/exposed/gradle/Versions.kt
index 9060cd053e..287662c3e8 100644
--- a/buildSrc/src/main/kotlin/org/jetbrains/exposed/gradle/Versions.kt
+++ b/buildSrc/src/main/kotlin/org/jetbrains/exposed/gradle/Versions.kt
@@ -1,8 +1,8 @@
 package org.jetbrains.exposed.gradle
 
 object Versions {
-    const val kotlin = "1.4.32"
-    const val kotlinCoroutines = "1.4.3"
+    const val kotlin = "1.5.0"
+    const val kotlinCoroutines = "1.5.0-RC"
 
     /** JDBC drivers **/
     const val h2 = "1.4.199"