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Is the company working on an investment round or the future outcome depends only on revenue?

The company is break even, no sign of an investment round at the moment. I don't think the CEO has any desire to fund raise.

We've had multiple seed rounds (about $5MM total) but haven't had one in over four years.

Edit: break even with all the software engineers being underpaid by at least 15% and myself being underpaid by 50%.

Well, it is a bet. You can define a time window where you accept the current working terms expecting enough profits/an exit/whatever that give the team better salaries and incentives. You can estimate if this outcome is possible, it is just a dream, or a lottery prize. It would be good to communicate partially or completely your position since it will be irrational to continue in this situation for the long term.

I think beyond this time window you should leave.

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