diff --git a/java/pom.xml b/java/pom.xml
index 6280303e4..0405093dc 100644
--- a/java/pom.xml
+++ b/java/pom.xml
@@ -6,5 +6,5 @@
 
     <groupId>com.logicalclocks</groupId>
     <artifactId>hopsworks</artifactId>
-    <version>3.4.0-RC0</version>
+    <version>3.4.1-RC0</version>
 </project>
diff --git a/python/hopsworks/version.py b/python/hopsworks/version.py
index 155f6d432..1b4eba44b 100644
--- a/python/hopsworks/version.py
+++ b/python/hopsworks/version.py
@@ -14,4 +14,4 @@
 #   limitations under the License.
 #
 
-__version__ = "3.4.0rc0"
+__version__ = "3.4.1rc0"
diff --git a/python/setup.py b/python/setup.py
index bc3477c4d..07a3f1d91 100644
--- a/python/setup.py
+++ b/python/setup.py
@@ -16,8 +16,8 @@ def read(fname):
     name="hopsworks",
     version=__version__,
     install_requires=[
-        "hsfs[python]~=3.4.0rc0",
-        "hsml~=3.4.0rc0",
+        "hsfs[python]~=3.4.1rc0",
+        "hsml~=3.4.1rc0",
         "pyhumps==1.6.1",
         "requests",
         "furl",