AlchemyHQ Funding History

AlchemyHQ has raised a total of $2M over the last 6 years Raising this capital resulted in dilution for Sasha Novakovich despite non-dilutive funding options like Founderpath. With $2M money raised, AlchemyHQ would have to sell for $20M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $2M assuming no crazy liquidation preferences.

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