diff --git a/falcon/version.py b/falcon/version.py
index 513fe9d..6f49ff6 100644
--- a/falcon/version.py
+++ b/falcon/version.py
@@ -16,7 +16,7 @@ limitations under the License.
 
 """
 
-VERSION_TUPLE = (0, 1, 7)
+VERSION_TUPLE = (0, 1, 8, 'dev1')
 
 __version__ = '.'.join(map(str, VERSION_TUPLE))
 """Current version of Falcon."""
diff --git a/setup.cfg b/setup.cfg
index b34e038..90de39a 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [egg_info]
-tag_build =
+tag_build = dev1
 
 [nosetests]
 where = falcon/tests