If you have this kind of revenue, you don't approach anyone, they approach you.
The linked post said they got funding from Andreessen Horowitz, Thrive Capital, OpenAI, Jeff Dean, Noam Brown, and the founders of Stripe, Github, Ramp, Perplexity, and OpenAI
But there are many others like Accel and Caffeinated Capital
So the funding is usually for a "future" revenue. Ie to hit this goal. Imo if they had this revenue they'd be aiming for 10x that with a much higher valuation. VC funding is all about a growth story. If you can keep selling vision you never have to worry about revenues or hitting them. There's even a name for such schemes!
what happens to the founders if they dont hit it
They either run out funding (so be forced to do layoffs, liquidations etc) or they have to find someone who can bail them out at unfavorable terms (read dilutions) or be really really good at story telling.