Ansarada Funding History

Ansarada has raised a total of $18.8M over the last 18 years Raising this capital resulted in dilution for Sam Riley despite non-dilutive funding options like Founderpath. With $18.8M money raised, Ansarada would have to sell for $188.5M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $18.8M assuming no crazy liquidation preferences.

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