diff --git a/synapse/__init__.py b/synapse/__init__.py
index 6766ef445c..766d9240c0 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -35,4 +35,4 @@ try:
 except ImportError:
     pass
 
-__version__ = "1.3.1"
+__version__ = "1.3.2-alpha.1"