LeaseQuery.com Funding History

LeaseQuery.com has raised a total of $40M over the last 12 years Raising this capital resulted in dilution for George Azih despite non-dilutive funding options like Founderpath. With $40M money raised, LeaseQuery.com would have to sell for $400M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $40M assuming no crazy liquidation preferences.

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