Aasonn Funding History

Aasonn has raised a total of $20M over the last 17 years Raising this capital resulted in dilution for Mike Maiolo despite non-dilutive funding options like Founderpath. With $20M money raised, Aasonn would have to sell for $200M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $20M assuming no crazy liquidation preferences.

Why are so many SaaS founders taking money from Founderpath.com instead of VC`s?