Keeley produced the Caverns Delay Reverb V2 (KCAV2-U) as a dual-effect pedal combining delay and reverb in a compact enclosure, positioned as an end-of-chain solution for players with space-constrained pedalboards or fly-rigs. It was built in the US by Keeley's production crew and succeeded an earlier Caverns model, with the V2 revision delivering a redesigned control layout offering more space between the footswitches and top-mounted jacks for tidier board routing.

The delay section drew on Keeley's Magnetic Echo circuit, engineered to emulate analog tape delay lines and offering up to 650ms of delay time. Three-way switchable modulation allowed the addition of wow and flutter characteristics to the repeats. The reverb section provided three modes: a Spring mode modelled on blackface amplifier-style spring reverb with tremolo modulation; a Modulation mode applying choral modulation to the reverb signal; and a Shimmer mode emphasising octave-up voices within the reverb trails. A selectable True-Bypass or Trails switching option determined whether the reverb and delay tails continued to decay after the pedal was bypassed. The unit accepted two TRS breakout cables for effects-loop patching or integration with a switching system, and its buffer was designed to deliver a full-strength signal to the amplifier.

Owners sourcing replacement hardware, footswitches, or jacks, or wishing to have the unit serviced, are advised to consult a qualified guitar or electronics technician familiar with boutique effects construction.