Preheat your oven to 350°F (180°C). Grease two 9-inch round cake pans, line the bottoms with parchment paper, then grease the paper for easy release. You can also flour the pans if you prefer.
In a medium bowl, whisk together the flour, baking soda, salt, and cinnamon until well combined.
In a separate large bowl, whisk together the vegetable oil, granulated sugar, brown sugar, and vanilla extract. Add the eggs one at a time, whisking after each addition until fully incorporated.
Add the dry ingredients to the wet ingredients in three parts, gently stirring with a spatula until smooth. Fold in the grated carrots, chopped pecans, and raisins until evenly distributed.
Divide the batter evenly between the prepared pans. Bake for 35-45 minutes, or until the tops spring back when touched and a toothpick inserted into the center comes out clean. Let the cakes cool in the pans for 15 minutes, then transfer to a wire rack to cool completely.
In a large bowl, beat the cream cheese until creamy using a handheld mixer. Gradually add the powdered sugar (and cornstarch, if using) on low speed, then increase to medium-high speed and whip until smooth. Pour in the heavy cream and beat for another 2-3 minutes or until the frosting is light and fluffy.
Once the cake layers are completely cool, frost the top of one layer and place the second layer on top. Spread the remaining frosting over the top and garnish with chopped pecans. Leave the sides unfrosted for a rustic look, or cover completely if you prefer!