GovDelivery Funding History

GovDelivery has raised a total of $0 over the last 24 years Raising this capital resulted in dilution for Mark Hynes despite non-dilutive funding options like Founderpath. With $0 money raised, GovDelivery would have to sell for $0, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $0 assuming no crazy liquidation preferences.

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