diff --git a/version.php b/version.php
index 4371396c7bc22..c76fd17c85fbb 100644
--- a/version.php
+++ b/version.php
@@ -30,10 +30,10 @@
 // between betas, final and RCs. This is _not_ the public version number. Reset minor/patch level
 // when updating major/minor version number.
 
-$OC_Version = [27, 1, 0, 2];
+$OC_Version = [27, 1, 0, 3];
 
 // The human-readable string
-$OC_VersionString = '27.1.0 beta 3';
+$OC_VersionString = '27.1.0 RC1';
 
 $OC_VersionCanBeUpgradedFrom = [
 	'nextcloud' => [