diff --git a/build/version.go b/build/version.go
index 9b8bbc109..4d0d3c1cc 100644
--- a/build/version.go
+++ b/build/version.go
@@ -40,14 +40,14 @@ const (
 	AppMajor uint = 0
 
 	// AppMinor defines the minor version of this binary.
-	AppMinor uint = 15
+	AppMinor uint = 16
 
 	// AppPatch defines the application patch for this binary.
-	AppPatch uint = 99
+	AppPatch uint = 0
 
 	// AppPreRelease MUST only contain characters from semanticAlphabet
 	// per the semantic versioning spec.
-	AppPreRelease = "beta"
+	AppPreRelease = "beta.rc1"
 )
 
 func init() {