Protel Hotel Software Funding History

Protel Hotel Software has raised a total of $0 over the last 21 years Raising this capital resulted in dilution for Ingo Dignas despite non-dilutive funding options like Founderpath. With $0 money raised, Protel Hotel Software 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?