diff --git a/CMakeLists.txt b/CMakeLists.txt
index 341eb954b..5d914f074 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -54,7 +54,7 @@ if (POLICY CMP0048)
 endif()
 project(OSRM C CXX)
 set(OSRM_VERSION_MAJOR 5)
-set(OSRM_VERSION_MINOR 7)
+set(OSRM_VERSION_MINOR 8)
 set(OSRM_VERSION_PATCH 0)
 set(OSRM_VERSION "${OSRM_VERSION_MAJOR}.${OSRM_VERSION_MINOR}.${OSRM_VERSION_PATCH}")
 
diff --git a/package.json b/package.json
index f21ce6565..2d4eff3f8 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "osrm",
-  "version": "5.7.0-latest.6",
+  "version": "5.8.0-latest.1",
   "private": false,
   "description": "The Open Source Routing Machine is a high performance routing engine written in C++14 designed to run on OpenStreetMap data.",
   "dependencies": {