Zoho Funding History

Zoho has raised a total of $7.3M over the last 26 years Raising this capital resulted in dilution for Sridhar Vembu despite non-dilutive funding options like Founderpath. With $7.3M money raised, Zoho would have to sell for $72.8M, for investors to be happy. For any founders and early employees to make money, the company would need to sell for at least $7.3M assuming no crazy liquidation preferences.

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