01 - Preheat oven to 350°F. Grease two 8-inch round cake pans and line with parchment paper.
02 - Blend strawberries and sugar in a blender or food processor until smooth. Reserve 1/2 cup for cake batter and 1/4 cup for frosting.
03 - In a medium bowl, sift together cake flour, baking powder, baking soda, and salt.
04 - Beat butter, oil, and sugar together in a large bowl until light and fluffy, approximately 3 minutes.
05 - Add eggs one at a time, beating well after each addition. Mix in vanilla extract.
06 - Mix in the strawberry purée and food coloring if using.
07 - Alternately add dry ingredients and buttermilk to the wet mixture, starting and ending with dry ingredients. Mix until just combined without overmixing.
08 - Divide batter evenly between prepared pans. Smooth tops and bake for 28-32 minutes until a toothpick inserted in center comes out clean.
09 - Let cakes cool in pans for 10 minutes, then turn out onto wire racks to cool completely.
10 - Beat cream cheese and butter together until smooth. Gradually add powdered sugar, beating until fluffy. Mix in vanilla and strawberry purée until well combined.
11 - Place one cake layer on a serving plate. Spread frosting on top. Add second layer and coat top and sides with remaining frosting. Decorate with fresh strawberries and chill for 30 minutes before slicing.