Participation in YC doesn’t guarantee funding success — about 12 of the 63 startups in the summer 2011 batch either didn’t try to raise funding or didn’t succeed
There's a huge difference between not trying to raise and not succeeding. If on these 12 startups only one really tried to raise funding and failed it really shows a different situation doesn't it? Of course if some startups do not raise because they already think they'd fail it's also another point and it would be nice to have more details on this point!