diff --git a/kapitan/version.py b/kapitan/version.py
index 75e988146..8a8b5f676 100644
--- a/kapitan/version.py
+++ b/kapitan/version.py
@@ -8,7 +8,7 @@
 """Project description variables."""
 
 PROJECT_NAME = "kapitan"
-VERSION = "0.31.0"
+VERSION = "0.31.1rc0"
 DESCRIPTION = "Generic templated configuration management for Kubernetes, Terraform and other things"
 AUTHOR = "Ricardo Amaro"
 AUTHOR_EMAIL = "ramaro@kapicorp.com"