diff --git a/pyproject.toml b/pyproject.toml
index de11f2132..d6eaaae9c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -136,7 +136,7 @@ namespaces = false
 version = {attr = 'sdv.__version__'}
 
 [tool.bumpversion]
-current_version = "1.16.2"
+current_version = "1.16.3.dev0"
 parse = '(?P<major>\d+)\.(?P<minor>\d+)\.(?P<patch>\d+)(\.(?P<release>[a-z]+)(?P<candidate>\d+))?'
 serialize = [
     '{major}.{minor}.{patch}.{release}{candidate}',
diff --git a/sdv/__init__.py b/sdv/__init__.py
index a86260a3c..b7b019123 100644
--- a/sdv/__init__.py
+++ b/sdv/__init__.py
@@ -6,7 +6,7 @@
 
 __author__ = 'DataCebo, Inc.'
 __email__ = 'info@sdv.dev'
-__version__ = '1.16.2'
+__version__ = '1.16.3.dev0'
 
 
 import sys