ANYTIME Funding History

ANYTIME has raised a total of $11M over the last 10 years Raising this capital resulted in dilution for Dupouy Damien despite non-dilutive funding options like Founderpath. With $11M money raised, ANYTIME would have to sell for $110.3M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $11M assuming no crazy liquidation preferences.

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