Aiqudo Funding History

Aiqudo has raised a total of $5.2M over the last 6 years Raising this capital resulted in dilution for Rajat Mukherjee despite non-dilutive funding options like Founderpath. With $5.2M money raised, Aiqudo would have to sell for $52M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $5.2M assuming no crazy liquidation preferences.

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