Little Funding History

Little has raised a total of $50M over the last 8 years Raising this capital resulted in dilution for Manish Chopra despite non-dilutive funding options like Founderpath. With $50M money raised, Little would have to sell for $500M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $50M assuming no crazy liquidation preferences.

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