The key gut check items on whether to get venture funding, according to Sara Guo's checklist, are:
"Can you do it without venture money? If so, and you’d be happy with the trajectory that option offers you, why raise money?
Are you willing to trade ownership in your company (and some control) for a partner in your corner who will hold you accountable for their capital? Do you like and trust that partner and their organization?
Are you personally ambitious to build a huge commercial business that will have impact on many people? Is that a driving priority for you? To define “huge,” are there acquisition or IPO outcomes for that business that will drive a multiple on investment that will excite your VC backer? "
Check out the rest of Sara's article on seeking venture capital or not. There are indeed other ways to successfully start and fund a non venture backed company.