Australians are rejecting the old two-party political system and independents will continue to flourish, the millionaire activist backing teal candidates says.

Climate 200 founder Simon Holmes a Court said some candidates it backed missed their expectations at the federal election, but Labor and the coalition should remain nervous.

The political funding group supported 35 "community candidates" at the May 3 election, according to its website, including high-profile teal MPs Zoe Daniel, Monique Ryan, Sophie Scamps and Allegra Spender.

Daniel lost her Melbourne seat of Goldstein to Liberal Tim Wilson, while the count in Ryan's former blue-ribbon Liberal electorate of Kooyong, also in Melbourne, remains too close to call.

Climate-200 backed teal challenger Nicolette Boele remains neck and neck in Sydney's Bradfield against Liberal Gisele Kapterian, as vote counting in several tight races nationwide continues.

Holmes a Court said the election showed a "dramatic shift" in the Australian political landscape, with about one million voters opting for an independent candidate.

"One third of Australians are no longer voting for either major party. We are rejecting the old political system," he told a TEDx event in Sydney.

He said most community independent candidates were returned by voters, but admitted there were no "silver medals" in politics.

"The movement didn't get everything that it hoped for," the businessman said.

Even so, he said one-in-four electorates had an independent to vote for at the election and "we're on track to see the lowest vote for the major parties in history and the highest vote for independents".

Climate 200, which does not select candidates or run independent campaigns, has become a political force since Cathy McGowan's successful campaign in the rural Victorian seat of Indi in 2013.

One of its most famous moments came when the movement's Zali Steggall claimed the Liberal stronghold seat of Warringah from former prime minister Tony Abbott at the 2019 election.