Prot-On Funding History

Prot-On has raised a total of $1.4M over the last 13 years Raising this capital resulted in dilution for Oscar Maire-Richard despite non-dilutive funding options like Founderpath. With $1.4M money raised, Prot-On would have to sell for $13.7M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $1.4M assuming no crazy liquidation preferences.

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