Akorda Funding History

Akorda has raised a total of $4M over the last 6 years Raising this capital resulted in dilution for Derek Schueren despite non-dilutive funding options like Founderpath. With $4M money raised, Akorda would have to sell for $40M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $4M assuming no crazy liquidation preferences.

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