diff --git a/VERSION b/VERSION
index 276cbf9e2..197c4d5c2 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-2.3.0
+2.4.0
diff --git a/docker-compose.yml b/docker-compose.yml
index 6619283aa..d3e823465 100644
--- a/docker-compose.yml
+++ b/docker-compose.yml
@@ -1,7 +1,7 @@
 version: '3.4'
 services:
   netbox: &netbox
-    image: netboxcommunity/netbox:${VERSION-v3.3-2.3.0}
+    image: netboxcommunity/netbox:${VERSION-v3.4-2.4.0}
     depends_on:
     - postgres
     - redis