diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 97643c4..6519859 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.4.1
+current_version = 0.5.0
 commit = True
 tag = True
 parse = (?P<major>\d+)\.(?P<minor>\d+)\.(?P<patch>\d+)
diff --git a/docs/source/conf.py b/docs/source/conf.py
index 05b4d08..46fc261 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -23,7 +23,7 @@ author = "Jensun Ravichandran"
 
 # The full version, including alpha/beta/rc tags
 #
-release = "0.4.1"
+release = "0.5.0"
 
 # -- General configuration ---------------------------------------------------
 
diff --git a/prototorch/models/__init__.py b/prototorch/models/__init__.py
index 30fcc50..b947e4b 100644
--- a/prototorch/models/__init__.py
+++ b/prototorch/models/__init__.py
@@ -36,4 +36,4 @@ from .unsupervised import (
 )
 from .vis import *
 
-__version__ = "0.4.1"
+__version__ = "0.5.0"
diff --git a/setup.py b/setup.py
index 30b8949..d2f0632 100644
--- a/setup.py
+++ b/setup.py
@@ -54,7 +54,7 @@ ALL = CLI + DEV + DOCS + EXAMPLES + TESTS
 
 setup(
     name=safe_name("prototorch_" + PLUGIN_NAME),
-    version="0.4.1",
+    version="0.5.0",
     description="Pre-packaged prototype-based "
     "machine learning models using ProtoTorch and PyTorch-Lightning.",
     long_description=long_description,