diff --git a/.version b/.version
index 7dea76e..524cb55 100644
--- a/.version
+++ b/.version
@@ -1 +1 @@
-1.0.1
+1.1.1
diff --git a/setup.py b/setup.py
index e589037..274ae61 100644
--- a/setup.py
+++ b/setup.py
@@ -6,5 +6,5 @@
 setup(
     name='pre_commit_placeholder_package',
     version='0.0.0',
-    install_requires=['mypy==1.0.1'],
+    install_requires=['mypy==1.1.1'],
 )