Apizee Funding History

Apizee has raised a total of $1.1M over the last 10 years Raising this capital resulted in dilution for Frédéric Luart despite non-dilutive funding options like Founderpath. With $1.1M money raised, Apizee would have to sell for $11.4M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $1.1M assuming no crazy liquidation preferences.

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