Antavo Loyalty Management Platform Funding History

Antavo Loyalty Management Platform has raised a total of $1.7M over the last 11 years Raising this capital resulted in dilution for Attila Kecsmar despite non-dilutive funding options like Founderpath. With $1.7M money raised, Antavo Loyalty Management Platform would have to sell for $17.1M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $1.7M assuming no crazy liquidation preferences.

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